Wall Street Journal: Phillips Carbon Black pulls out of Evonik bidding

The Wall Street Journal is reporting that Phillips Carbon Black Ltd. of India has pulled out of the bidding for Evonik Industries AG’s carbon black business, citing a person familiar with the matter. About a six companies had moved to the second round of bidding for the German-based company’s business, which carries a value of about $1 billion.

Bloomberg: Phillips Carbon Quits Race to Buy Evonik Business, WSJ Says