Engelhard war hots up as BASF raises offer to $39

May 2006
ICIS Chemical Business;5/29/2006, Vol. 1 Issue 21, p4
Trade Publication
The article reports that BASF has increased its bid for U.S. speciality chemicals and catalyst maker Engelhard in a strongly-worded letter to shareholders attacking the management's recapitalisation plans and profit projections. The appeal in support of its just-raised $39/share bid for Engelhard talked of the superior and nearly immediate value of the bid against what it described as Engelhard's risky recapitalisation and partial share buyback.


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