Global Capital Markets

Story: Reliance Industries, the Indian petrochemicals giant, is today considering making an offer for Innovene, the Business reported. The article did not cite a source for the information but stated that the potential bid was worth USD 3bn (EUR 2.4bn). Innovene is a chemicals business belonging to BP, the report noted, adding that if a deal goes through it will be a sign that India is following in China’s acquisitive footsteps. The company is based in Chicago but is selling off its European businesses.

Source: The Business
Value: $3,000m (Potential offer size)