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Lubrizol Still In Running For Cognis Alongside BASF -Sources

By Marietta Cauchi and Eyk Henning OF DOW JONES NEWSWIRES FRANKFURT -(Dow Jones)- U.S. specialty chemicals company Lubrizol Corp. (LZ) is still in the running to buy German rival Cognis GmbH, people familiar with the situation told Dow Jones Newswires Monday. "Contrary to various reports, Lubrizol is still -- as before -- interested in Cognis," one person said. Another person familiar with the matter said Lubrizol is still seeking financing for the reported sale price of more than EUR3 billion. Cognis was spun off of German household consumer products maker Henkel AG & Co. KGaA (HEN.XE) and is owned by Goldman Sachs Capital Partners and London-based private equity firm Permira who bought the company for EUR2.5 billion in 2001. German chemicals company BASF SE (BAS.XE) is conducting due diligence of Cognis, another person familiar with the bid process has told Dow Jones. BASF is the most likely buyer because of its financial strength, people said. Neither Goldman Sachs or Permira would comment on the information Monday. In March, Cognis said it swung to a net profit of EUR47 million for the first quarter compared with a loss of EUR33 million in the same period last year. Company websites: http://www.basf.com http://www.cognis.com http://www.lubrizol.com -By Marietta Cauchi and Eyk Henning, Dow Jones Newswires; +49 69 29 725 500, marietta.cauchi@dowjones.com and eyk.henning@dowjones.com

Stock News for Lubrizol (LZ)
DateTimeHeadline
08/25/201103:52:21EU Clears Berkshire Hathaway Purchase Of US' Lubrizol Corp.
07/26/201117:15:17Lubrizol 2Q Profit Falls 5% On Costs, Foreign Exchange, Taxes
06/20/201111:08:19Lubrizol CFO, COO To Retire After Berkshire Deal Closes -Filing
06/13/201116:24:11Berkshire, Lubrizol May Move Merger Date To Dec. 31 - Filing
05/02/201114:39:16SEC Disputes Buffett's View Of Sokol Inquiry -Fox Business
04/30/201111:36:19Buffett: Sokol's Actions Were 'Inexplicable,' 'Inexcusable'
04/27/201120:38:42Statement Of Barry Wm. Levine, Attorney For David Sokol
04/27/201117:05:24Berkshire Audit Committee: Sokol Violated Company Policy
04/27/201116:43:37Lubrizol 1Q Profit Climbs 4.4% On Higher Revenue
04/14/201108:04:39Evercore Hires Goldman Energy Banker; Scores Big Deals With Fat...
04/11/201120:14:21Sokol Spoke More With Lubrizol Bankers Than Previously Disclosed
03/31/201115:35:10WSJ: SEC Weighs Launching Sokol Insider Trade Probe - Sources
03/25/201120:17:29Berkshire's Sokol Took Lead In Lubrizol Deal, Filings Show
05/28/201009:04:03BASF Could Make Binding Offer For Cognis In June - Sources
05/17/201012:49:52Lubrizol Still In Running For Cognis Alongside BASF -Sources

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