BASF and Engelhard Near Finishline

June 9, 2006 | By: Katie Schaefer
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Title: BASF and Engelhard Near Finishline
  • Article

As of 8:00 p.m. on June 8, 2006, a total of 113,489,680 shares, nearly 90% of Engelhard's outstanding common stock, had been tendered into BASF's initial tender offer and during the subsequent offering period, according to BASF.

BASF announced June 9, 2006, the completion of the subsequent offering period for the outstanding shares of Engelhard. BASF will complete the acquisition of Engelhard through a merger of the acquisition vehicle, Iron Acquisition, into Engelhard Corporation in which all Engelhard shares not tendered into BASF's offer or during the subsequent offering periiod will be converted into the right to recieve $US 39 per share.  When the merger is complete, Engelhard will be a wholly owned subsidiary of BASF.