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
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
Albright and Wilson’s board has recommended its takeover by
It has yet to express its views on Rhodia’s bid.