A state of war exists between ICI, Britain's top chemical company, and Hanson pic, over the prospect of Britain's ; largest ever takeover. It was sparked by a city raid that i made Hanson pic ICI's second ' largest shareholder, and was followed by a proposed merger . from Hanson chairmen Lords Hanson and White. ICI coldly refused. Now, amid workforce anxieties and excitement in the financial world, Fred Emery reports on the key issue: should ICI simply be sold to the highest bidder or are there longer-term national - interests to be served in safeguarding a British company that claims to be j world class?