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HaiKe plays down takeover talk
Mon, 01 Dec, 2008
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HaiKe plays down takeover talk
Mon, 31 Mar 2008, 09:38:00
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HaiKe Chemical Group
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Aim-listed chemicals group <b>HaiKe</b> has refuted speculation that it is bid talks, saying it not talking to anyone about a takeover.<br /><br />"The board notes the recent press speculation concerning a possible takeover offer for the group and wishes to state that it is not in discussions with any party regarding a potential offer for the group," it said in a brief statement.<br /><br />Reports in China over the weekend had suggested Chinese state oil firm CNOOC was looking at five refineries in eastern China for possible acquisitions, with HaiKe cited as one of the possible targets by the Economic Observer paper.<br /><br />Haike's last trading update was in December when it said it had seen significantly improved performance from its petrochemical business after the Chinese government said it will increase its guideline selling price for certain refined petrochemical products from November 2007.<br /><br /><br />
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