December 13, 2016 / 4:45 PM / a year ago

Canexus, Chemtrade in friendly talks after hostile bid - sources

TORONTO, Dec 13 (Reuters) - Canadian chemical company Canexus Corp, which rejected a hostile bid from Chemtrade Logistics Income Fund, is in discussions with the company about a higher offer, according to two sources familiar with the situation.

Calgary-based Canexus rebuffed the C$1.50-per-share unsolicited offer in October, saying the C$297.2 million bid undervalued the company. Chemtrade, a supplier of industrial chemicals, initially offered C$1.45 per share. (Reporting by John Tilak; Editing by Bill Trott)

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