BASF: GE Plastics too expensive

The Reuters news service has a short item on the wire today quoting BASF AG Chief Executive Officer Juergen Hambrecht on his company's interest in buying GE Plastics. "I think the price of the [GE Plastics] assets is not within the general target corridor of BASF," Hambrecht said at a news conference, according to the report. This isn't a surprise. We reported a month ago that industry observers don't expect BASF to be interested in buying all of Pittsfield, Mass.-based GE Plastics. No word on whether BASF might be interested in some parts of the company, if some selected assets became available.