Loctite Meets Bidder, Not Henkel

12/04/96

Reuters reports that Loctite Corporation filed a document with the Securities and Exchange Commission that says the chairman of a special Loctite committee and a representative of Dillon Read met this week with the CEO of a potential bidder. Although the filing does not name the the bidder, it does say that it was not Henkel KGaA, the German company that is attempting a hostile takeover of Loctite. Henkel, which already owns 35% of Loctite, initiated the takeover attempt by offering $2.1 billion for the 65% of Loctite that it does not own. Henkel manufactures chemicals and consumer products; Loctite makes adhesives and specialty chemicals.

Paul Dever -- The Auto Channel