Reuters alone with BASF deal value and timing

Reuters reported exclusively on June 9 that chemicals giant BASF was set to agree to the takeover of green chemicals maker Cognis for 3 billion euros within a week. Brokerage Equinet alerted its clients to the Reuters report in a research note, saying the deal metrics were positive for BASF. A London-based broker called to discuss the article, saying it reassured him on a market bet he had placed on the timing of the deal. The story also prompted a call from a Citi analyst, who said the article highlighted BASFs bargaining power. BASF shares rose 1.4 percent the next day, slightly outperforming the Germanys benchmark index DAX.