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Wednesday, August 6, 2014

Germany's Lanxess says no news on alliances before 2015, (NYSE: EVR)

The chief executive officer of German synthetic rubber maker Lanxess said Wednesday the search for strategic partners was likely to continue into next year as internal restructuring measures have taken precedence so far.CEO Matthias Zachert said in May he would not rule out setting up joint ventures with strategic partners to tackle production overcapacity and weak prices in the synthetic rubber industry.He said on Wednesday that talks were ongoing.Two people familiar with the strategic alternatives review said Evercore Partners Inc, a boutique U.S. investment bank, was working alongside Lanxess on the process. A full slate of options was on the table, one of the people said.

Evercore Partners Inc. (Evercore) is an independent investment banking advisory firm. Shares of EVR fell by 0.76% or $-0.38/share to $49.30. In the past year, the shares have traded as low as $43.08 and as high as $63.66. On average, 399144 shares of EVR exchange hands on a given day and today's volume is recorded at 198096.