Solvay bets on emerging mkts in $4.8b Rhodia buy

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AMSTERDAM, April 4 (Reuters): Cash-rich Belgian chemicals group Solvay SA is betting on emerging markets with a 3.4 billion euro ($4.8 billion) cash bid for French rival Rhodia SA, ending a year-long hunt for acquisitions. Monday's deal ends Solvay's year-long search for a takeover after the company sold its drugs unit to its US partner Laboratories in September 2009 for 4.5 billion euros. The offer of 31.60 euros per share for Rhodia has been recommended by Rhodia's board of directors and still leaves Solvay with a cash left over from its drugs unit sale. The chemicals sector is proving fertile ground for M&A, as some firms seek higher-margin businesses and shift away from the traditional low-margin bulk chemicals production.