TITLE

Face-off: Which is the better offer?

AUTHOR(S)
Chang, Joseph
PUB. DATE
May 2006
SOURCE
Chemical Market Reporter;5/29/2006, Vol. 269 Issue 21, p12
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article presents information on the final tender offer made by BASF Corp. to Engelhard Corp. for purchasing the shares of the latter at $39 per share. On the other hand, Engelhard has announced a new self-tender offer, in which it seeks to buy back 20% of its stock at $45. According to analysts, Engelhard is likely to reject the $39 offer of BASF. On June 2, shareholders will vote to elect five directors from candidates nominated by both the companies. So, there are two options before the shareholders - one option ensures $39 per share if BASF wins, and the other option gives them $45 for one fifth of their shares, and a public market value for the remaining shares if Engelhard wins.
ACCESSION #
21081537

 

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