Rhodia enlists FD for takeover bid

French chemicals group Rhodia has appointed Financial Dynamics to handle the PR for its pounds 455 million bid for UK chemicals firm Albright and Wilson.

French chemicals group Rhodia has appointed Financial Dynamics to

handle the PR for its pounds 455 million bid for UK chemicals firm

Albright and Wilson.



Rhodia made its bid ten days ago, trumping by 15 pence per share an

offer from US chemicals firm Albemarle a few days earlier.



There is speculation in the City that a third bidder is likely to emerge

before any deal is concluded.



Financial Dynamics is overseeing all Rhodia’s financial press, analyst

and investor relations in the UK in its battle for Albright and

Wilson.



The agency was appointed without a competitive pitch.



The account is to be overseen by the agency’s chief executive, Nick

Miles, and its day-to-day handling is the job of director Charles

Watson. Miles and Watson will report to, and work closely with, Rhodia’s

board-level mergers and acquisitions team.



Albemarle selected Shandwick for its financial PR earlier this month

when it announced its bid for Albright and Wilson.



Miles said that Financial Dynamics had been recommended to Rhodia by

investment bank NM Rothschild, the company’s financial adviser on the

bid.



Albright and Wilson’s board has recommended its takeover by

Albemarle.



It has yet to express its views on Rhodia’s bid.



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