Mexican plastic pipe maker Mexichem is buying Zwolle-based Wavin for €530m – or €10.50 per share. The deal has board approval.

If enough Wavin investors tender their shares, it will create the biggest plastic pipe maker in the world, with annual turnover of some €4bn.
In November, Mexichem offered €8.50 a share for the Dutch firm. The current offer is 117% above November’s share price close.
Jobs safe
According to the Financieele Dagblad, the takeover will not lead to job losses, the Dutch operation will remain intact and the Wavin name will remain in use.
Wavin is European market leader with a workforce of some 6,000 and annual turnover of €1.2bn. Mexichem is predominantly active in Latin America although it also exports to Asia and Europe. It has a workforce of 10,000, the paper says.