Abstract
Just a week after executives briefed a contingent of European chemical journalists about Rhone-Poulenc's worldwide chemicals operations, Chairman and Chief Executive Officer Jean-Rene Fourtou announced that the French company would become a life sciences firm by partly spinning off those same chemical businesses. By the end of this month, directors at Rhone-Poulenc—recently described by one securities analyst as being perpetually in the midst of restnicturing—are to debate two measures to split the company (C&EN, June 30, page 19). One measure aims to increase the company's ownership of pharmaceuticals company Rhone-Poulenc Rorer, based in Collegeville, Pa., to 100% from the current 68.3%. The total cost of buying out minority shareholders at a proposed $92 per share is expected to be some $4.3 billion. The second measure will combine the chemicals, fibers, and polymers units into a new company, to be launched onto the stock market in 1998. This company would focus on specialty chemicals and services ...
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