Here's your summary from Covestro Enters Formal Talks With Adnoc (https://www.youtube.com/watch?v=jOCVjEX6paw) on the Bloomberg Television channel:
### TLDR:
Adnoc is in formal talks with Covestro, gradually increasing their bid to €62 per share, aiming to diversify income away from crude oil sales.
### Key Points:
1. Adnoc started bidding at €55 per share, gradually increasing to €60 with a potential to reach €62 pending due diligence.
2. Covestro has been in talks with Adnoc for about a year, with Adnoc looking to diversify income into the petrochemical sector.
3. Energy price increases and geopolitical events have impacted the market, making energy assets more valuable and driving Adnoc's interest in Covestro.
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