13-Jun-2006 - BASF SE

BASF receives over 90% of Engelhard shares

BASF Announces Completion of Subsequent Offering Period

BASF Aktiengesellschaft announced the completion of the subsequent offering period for the outstanding shares of Engelhard. As of 8:00 p.m. New York City time on June 8, 2006, a total of 113,489,680 shares, representing more than 90% of Engelhard's outstanding common stock, had been tendered into BASF's initial tender offer and during the subsequent offering period.

BASF intends to complete the acquisition of Engelhard through a merger of the acquisition vehicle, Iron Acquisition Corporation, into Engelhard Corporation in which all Engelhard shares not tendered into BASF's offer or during the subsequent offering period (other than shares held in the treasury of Engelhard or held by BASF or any of its subsidiaries) will be converted into the right to receive $39 per share. Following the merger, Engelhard will be a wholly owned subsidiary of BASF. Under applicable law, the merger is not subject to the approval of the remaining Engelhard stockholders.

Facts, background information, dossiers
  • Engelhard
  • BASF
More about BASF
More about Engelhard
  • News

    BASF announces full Engelhard integration

    Following the acquisition of Engelhard Corporation on June 6, 2006, BASF announced the full integration of Engelhard into its global operations. BASF expects the integration to result in annual synergies of EUR160 million ($200 million) by 2010. Almost half of this amount shall be achieved ... more

    BASF begins to rename Engelhard worldwide

    BASF announced that an important step in the integration process of Engelhard into the BASF Group has been accomplished with the registration of a new corporate name - BASF Catalysts LLC - in the United States. BASF will extend its brand to Engelhard companies in other regions of the world ... more

    BASF Completes Acquisition of Engelhard Corporation

    BASF Aktiengesellschaft announced the successful completion of its acquisition of Engelhard Corporation. "Together with the Engelhard team we have started the integration process in which our customers continue to be the key priority," said Dr. Jürgen Hambrecht, Chairman of the Board of Ex ... more