ROUNDUP: Covestro negotiates takeover with Adnoc for 11.7 billion euros

LEVERKUSEN - After a months-long standstill, the plastics group Covestro is now talking concretely about a takeover by the state-owned oil company Adnoc from the United Arab Emirates. For months, the DAX-listed company had only referred to open-ended talks. A possible bid totaling around 11.7 billion euros or 62 euros per share is now on the table. Before that, however, Adnoc will be granted a deep insight into Covestro's books (confirmatory due diligence) and both sides must agree on an investment agreement. However, there are some doubts on the stock exchange as to whether a deal will materialize - especially as Adnoc has said that EUR 62 per share would be a final offer.

ROUNDUP 3: Violation of competition rules? EU Commission takes aim at Apple

BRUSSELS - In the fight against the power of tech companies, the EU Commission has set its sights on Apple. The American company is suspected of having violated new rules for large online platforms, as the Brussels authority announced on Monday. There are doubts, for example, as to whether the American company is fulfilling its obligation to direct users to offers from developers outside its own app stores free of charge.

ROUNDUP: Engine manufacturer Deutz considers entering the defense business - share price jumps

BERLIN - The engine manufacturer Deutz can imagine entering new market segments such as the defense sector and decentralized power supply. The company, which is listed in the small-cap index SDax, is considering supplying engines for wheeled tanks, armored personnel carriers and supply vehicles, wrote the newspaper "Welt am Sonntag" following an interview with CEO Sebastian Schulte. Battery storage systems for the stationary supply of military hospitals are also conceivable. "This is certainly an attractive field, it will bring about a turnaround," said the Deutz boss. This caused a jump in the price of Deutz shares on Monday.

E-cars from China: Beijing and Brussels want to negotiate in the customs dispute

PEKING - An initial rapprochement has been reached between China and the EU in the dispute over tariffs on e-cars. Both sides want to negotiate with each other, as was announced on Saturday. The Brussels authorities had previously published plans to impose tariffs on Chinese e-cars if no other solution could be found with China. The EU accuses Beijing of unfairly subsidizing battery-powered models.

ROUNDUP: Cum-Ex trial against banker Olearius discontinued

BONN - The cum-ex criminal proceedings against the former head of the Hamburg private bank M.M.Warburg, Christian Olearius, at the Bonn Regional Court have been discontinued. The presiding judge, Marion Slota-Haaf, handed down a ruling to this effect on Monday. The reason for this is the 82-year-old's failing health. Both the public prosecutor's office and the defense had requested an early end to the proceedings, which began in September 2023. The guilty verdict means that the question of guilt remains unanswered. Olearius spoke in court before the verdict on Monday and reiterated his innocence. The accusations of the public prosecutor's office are invalid.

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Further news

-Airports: International air traffic almost at pre-corona level

-ROUNDUP: Prosus makes its first operating profit in the e-commerce business

-Siemens Energy with billion-euro order from Saudi Arabia

-Apple will not introduce new AI functions in the EU for the time being

-Chinese company wants to produce wind turbine foundations in Cuxhaven

-Germany: One in four people pay with their smartphone or watch every day when shopping

-Return of Boeing's 'Starliner' to Earth postponed

-Lost chats: Brussels imposes fine on US fragrance manufacturer

-No compulsory redundancies in thyssenkrupp's steel division

-Report: Aer Lingus cancels flights to Germany due to dispute with pilots

-Recycling of precious metal - Heraeus buys Canadian company

-Media: National player Groß about to move to Dortmund

-Cyber attack on real estate subsidiary of DZ Bank

-Gustoso takes over Dutch tapas chain

-Cost-cut airline Ryanair stirs up trouble against greens and cyclists

-Consumer protectionists in favor of compulsory insurance for French model

-Suitcases delayed or missing: Airlines have improved°

Customer tip:

ROUNDUP: You can read a summary in the company overview. There are several reports on this topic on the dpa-AFX news service.

/jha