Abu Dhabi's International Petroleum Investment Co (IPIC) is in talks to buy Bayer's MaterialScience division, chemicals trade publication ICIS reported, citing IPIC Managing Director Khadem al-Qubaisi.
IPIC was in talks with a further four European and US chemical makers, and expects to close a European acquisition by the first quarter of 2010, IPIC said in its online edition on Tuesday.
A Bayer spokesman told Reuters the company would not comment on "market speculation."
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