Adnoc, Apollo Said to Offer $7.6 Billion for Brazil’s Braskem

Braskem SA, one of the world’s top petrochemicals makers, received an offer of as much as 37.5 billion reais ($7.6 billion) from Abu Dhabi National Oil Co. and Apollo Global Management, according to people familiar with the matter.

Discussions are still in early stages, according to the people, who requested anonymity to discuss the confidential matter. One of them said the offer was non-binding.

The company surged the most on record in Brazilian trading after a columnist for Brazilian newspaper Folha de S.Paulo first reported on the proposal. The offer of 47 reais a share was more than double ...