Jones Lang LaSalle
Engelhard to accept BASF's takeover bid, possibly today
05.30.2006, 02:38 AM
LONDON (AFX) - US catalyst maker Engelhard Corp could announce as early as today that it is accepting BASF AG's 39 usd per share takeover offer, the Wall Street Journal quoted people familiar with the matter as saying.
Final approvals were still being worked out over the holiday weekend, though it is still possible the deal could fall apart, the sources added.
On Thursday, BASF said proxy advisors Institutional Shareholder Services had recommended that Engelhard shareholders approve BASF's five nominees to the Engelhard board at a June 2 AGM.
A vote in favour would give BASF a majority on the board.
Engelhard to accept BASF's takeover bid, possibly today
05.30.2006, 02:38 AM
LONDON (AFX) - US catalyst maker Engelhard Corp could announce as early as today that it is accepting BASF AG's 39 usd per share takeover offer, the Wall Street Journal quoted people familiar with the matter as saying.
Final approvals were still being worked out over the holiday weekend, though it is still possible the deal could fall apart, the sources added.
On Thursday, BASF said proxy advisors Institutional Shareholder Services had recommended that Engelhard shareholders approve BASF's five nominees to the Engelhard board at a June 2 AGM.
A vote in favour would give BASF a majority on the board.
posted by Jones Lang LaSalle NJ News Blog at 9:33 AM
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