TITLE

BASF makes "final" offer of $39

AUTHOR(S)
Davis, Nigel; Chang, Joseph
PUB. DATE
May 2006
SOURCE
Chemical Market Reporter;5/29/2006, Vol. 269 Issue 21, p5
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article presents information on the final offer of $39 per share made by BASF Corp. to Engelhard Corp., in an attempt to takeover Engelhard. According to BASF chairperson Jüurgen Hambrecht, BASF wants all its nominees to be elected by Engelhard's shareholders. BASF has nominated five candidates to be elected for Engelhard's board. To get the deal done, shareholders should elect the nominees on June 2, otherwise, the $39 tender of BASF will expire on June 5. According to BASF, Engelhard will not be capable of achieving its goals in future because of the burden of debt.
ACCESSION #
21081525

 

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