Herberts to be sold for pounds 900m

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The Independent Online
THE US chemicals group, Du Pont, has agreed to buy paint and coatings maker Herberts from the German drugs and chemicals company Hoechst for DM3.13bn (pounds 900m).

Earlier this month talks on the acquisition of Herberts by Kohlberg Kravis Roberts, a US buyout firm, collapsed when the parties failed to agree a price. In August they had agreed in principle that KKR would buy Herberts for DM3bn.