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STOCKS NEWS EUROPE-Lanxess gains as report revives takeover chat

Reuters - UK Focus

Shares in German synthetic rubber specialist Lanxess (Other OTC: LNXSF - news) rise to the top of the country's blue-chip index DAX as traders point to a media report saying a takeover could become more likely.

German website Boerse Online cites an unnamed fund manager as saying the arrival of new Chief Executive Matthias Zachert on April 1 will bode well for the stock over the coming two to three months.

The fund manager is also quoted as saying the sale of Lanxess to a larger rival would be increasingly under discussion. A spokesman for Lanxess declines to comment.

The shares are up 2.1 percent at 0909 GMT, close to a 10-month high, while the DAX and the STOXX Europe 600 Chemicals trade flat and up 0.4 percent, respectively.

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Trading of the stock has already reached three quarters of the average one-day volume over the past three months.

Reuters messaging rm://ludwig.burger.thomsonreuters.com@reuters.net

rm://anika.ross.thomsonreuters.com@reuters.net