Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

BASF solicits Engelhard stock

January 16, 2006 | A version of this story appeared in Volume 84, Issue 3

BASF has formalized its $4.9 billion offer to buy a reluctant Engelhard by filing its offer with the Securities & Exchange Commission and mailing it to Engelhard's owners. BASF has set a deadline of Feb. 6 for shareholders to tender their stock, though it says it may extend the offer. Engelhard says its board is reviewing BASF's offer and asks shareholders to wait for a recommendation, which should come no later than Jan. 24. According to a transcript of phone conversations released last week by BASF, Engelhard CEO Barry W. Perry told BASF CEO Jürgen Hambrecht that his company would enter takeover discussions but at a "significantly higher" price than that proposed by BASF.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.