UPDATE 1-Pirelli shares above ChemChina bid price after dividend announcement

March 31, 2015 3:26 PM

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MILAN, March 31 (Reuters) - Shares in Pirelli remained slightly above the bid price offered by China National Chemical Corp (ChemChina) after the Italian tyre maker announced a dividend payout on Tuesday, in a sign investors see value in keeping the stock.

ChemChina will become the majority owner of the world's fifth-largest tyre maker in a 7.3 billion-euro ($8 billion) deal agreed with Pirelli's biggest shareholders that will put the 143-year-old Italian firm in Chinese hands.

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