By Ben Martin
LONDON (Reuters) - British specialty chemicals maker Croda International Plc (L:CRDA) has ended talks with U.S. peer Ashland Global Holdings Inc (N:ASH) about a possible merger, a source familiar with the matter told Reuters on Wednesday.
The unsuccessful deal talks show that Ashland is viewed among its rivals as a potential target for consolidation in the sector, following the initial public offering (IPO) of its automotive lubricants unit Valvoline Inc (N:VVV) in 2016.
Croda, which has a market value of 5.6 billion pounds, ended talks with Ashland last month, the source said.
Details of the terminated discussions were not available.
Ashland, which has a market value of $4.5 billion (£3.2 billion), is active in more than 100 countries providing chemicals products to various industries including automotive, energy and construction.
Ashland did not respond to a request for comment.