TITLE

Engelhard rejects $4.9B BASF offer

AUTHOR(S)
Chang, Joseph
PUB. DATE
January 2006
SOURCE
Chemical Market Reporter;1/30/2006, Vol. 269 Issue 4, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the Engelhard Corp.'s rejection of BASF's takeover bid. It discusses the growth of Engelhard's share in March 2006. According to Engelhard Chief Executive Officer and Chairman Barry Perry, BASF's offer is opportunistic and undervalues Engelhard. He also said that BASF's offer does not reflect the synergies that could be achieved in a combination.
ACCESSION #
19774412

 

Related Articles

  • Chemicals: a view from Europe. Robinson, Simon // ICIS Chemical Business;1/9/2006, Vol. 1 Issue 1, p54 

    The article offers observations on the $4.9 bn takeover offer of BASF for Engelhard, the U.S. specialty company. Engelhard rejected the offer. Some people have been surprised that BASF is making a hostile bid. BASF is taking a global perspective, but acting forcefully in the U.S. where contested...

  • New Direction. Jusko, Jill // Industry Week/IW;Jul2006, Vol. 255 Issue 7, p18 

    Reports that Engelhard Corp. has agreed to merge with chemical maker BASF AG. Cost of the acquisition of Engelhard by BASF; Bid offered by BASF for Engelhard; Statement issued by Barry W. Perry, chairman and CEO of Engelhard on the offer of BASF.

  • BASF and Engelhard seal deal at $39. Chang, Joseph // Chemical Market Reporter;6/5/2006, Vol. 269 Issue 22, p5 

    The article reports that BASF AG and Engelhard Corp. have reached a definitive merger agreement after BASF increased its bid for Engelhard from $1 to $39 dollar per share in the U.S. According to BASF chairman Jürgen Hambrecht, they are confident that the shareholders of Engelhard will tender...

  • BASF offers $4.9 billion for Engelhard.  // Chemical Business;Feb2006, Vol. 20 Issue 2, p86 

    Reports on the offer by German chemical company BASF AG to acquire New Jersey-based rival Engelhard Corp. in February 2006. Significance of the acquisition offer to BASF and Engelhard stockholders; Transaction between the two companies; Information on the operations of Engelhard Corp.

  • BASF makes S4.9B hostile bid for Engelhard. Chang, Joseph // Chemical Market Reporter;1/9/2006, Vol. 269 Issue 1, p5 

    This article reports that BASF AG has made a hostile, $4.9 billion takeover bid for Engelhard Corp. German chemical giant BASF is offering $37 per share in cash for all shares of Engelhard, a 23% premium over its prior closing price of $23.15. BASF is intending to launch a tender offer for the...

  • BASF launches $37 tender offer for Engelhard. Chang, Joseph // Chemical Market Reporter;1/16/2006, Vol. 269 Issue 2, p4 

    The article reports on the business developments of BASF AG in Germany. It mentions about the launched of the company's 37 dollar per share hostile tender offer for Engelhard Corp. But the tender offer is doubtful to succeed if Engelhard's stock remain above the tender price. And Engelhard is...

  • Engelhard nods a firm okay to BASF offer.  // ICIS Chemical Business;6/5/2006, Vol. 1 Issue 22, p16 

    The article reports on the recommendation of the board of Engelhard for its shareholders to accept the tender offer made by BASF. Barry Perry, chairman and chief executive of Engelhard, has released a statement regarding the transaction between the two companies. Engelhard's agreement to the...

  • Engelhard Spurns BASF, Will Explore Sale of Company. Westervelt, Robert // Chemical Week;2/1/2006, Vol. 168 Issue 4, p10 

    The article reports on the formal rejection of the takeover bid of BASF by Engelhard in February 2006. The reason for rejecting the offer is given. BASF, meanwhile, says it will seek board seats at Engelhard to press its bid. A remark from BASF board chairman Jürgen Hambrecht on the offer is...

  • BASF aims bigger in catalysts. Davis, Nigel; Richardson, John // ICIS Chemical Business;1/16/2006, Vol. 1 Issue 2, p18 

    The article reflects on the hostile bid of BASF to acquire Engelhard. It highlights the benefits of the acquisition to BASF. It suggests approach that BASF should take to win the bid. It provides information on the products and services of Engelhard and its financial performance in 2004.

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics