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BASF Makes Proposal to Acquire Engelhard
Posted: January 4, 2006
BASF Aktiengesellschaft (Ludwigshafen, Germany) announced it has made an all-cash proposal to acquire all outstanding shares of common stock of Engelhard Corporation (Iselin, N.J., USA) for US$37.00 per share or an aggregate of US$4.9 billion. On Jan. 3, 2006, the company hosted a conference call for analysts, investors and journalists to discuss its proposal to acquire Engelhard.
Engelhard is a major supplier of pearlescent pigments and other effect pigments for the cosmetics industry. The company recently acquired Collaborative Labs and Colectica, both companies very strong in active ingredients for cosmetics and skin care products. BASF is a supplier of specialty ingredients for the cosmetic and personal care industry with pigments, sunscreens, polymers and many other specialty technologies with application in the industry.