BASF Receives Over 90% of Engelhard Shares
09 6월 2006 - 8:00PM
PR Newswire (US)
BASF Announces Completion of Subsequent Offering Period
LUDWIGSHAFEN, Germany, June 9 /PRNewswire-FirstCall/ -- BASF
Aktiengesellschaft (Frankfurt: BAS; NYSE: BF [ADR]; LSE: BFA; SWX:
AN) today 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 (NYSE:EC) 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. BASF is
the world's leading chemical company: The Chemical Company. Its
portfolio ranges from chemicals, plastics, performance products,
agricultural products and fine chemicals to crude oil and natural
gas. As a reliable partner to virtually all industries, BASF's
intelligent system solutions and high-value products help its
customers to be more successful. BASF develops new technologies and
uses them to open up additional market opportunities. It combines
economic success with environmental protection and social
responsibility, thus contributing to a better future. In 2005, BASF
had approximately 81,000 employees and posted sales of more than
Euro 42.7 billion. BASF shares are traded on the stock exchanges in
Frankfurt (BAS), London (BFA), New York (BF) and Zurich (AN).
Further information on BASF is available on the Internet at
http://www.basf.com/ . This press release contains forward-looking
statements. All statements contained in this press release that are
not clearly historical in nature or that necessarily depend on
future events are forward-looking, and the words "anticipate,"
"believe," "expect," "estimate," "plan," and similar expressions
are generally intended to identify forward-looking statements.
These statements are based on current expectations, estimates and
projections of BASF management and currently available information.
They are not guarantees of future performance, involve certain
risks and uncertainties that are difficult to predict and are based
upon assumptions as to future events that may not prove to be
accurate. Many factors could cause the actual results, performance
or achievements of BASF to be materially different from those that
may be expressed or implied by such statements. Such factors
include those discussed in BASF's most recent Form 20-F filed with
the SEC. Michael Grabicki Phone: +49 621 60-99938 Fax: +49 621
60-92693 US media contact: Rand Pearsall Phone: +1 973 245 6820
Cell: +1 973 626 1786 Fax: +1 973 245 6714 Analysts/Investors
contact: Christoph Beumelburg Phone: +1 973 245 6013 Cell: +1 973
519 2981 Fax: +1 973 245 6714 DATASOURCE: BASF CONTACT: Michael
Grabicki, +49-621-60-99938, Fax: +49-621-60-92693, , US media
contact: Rand Pearsall, +1-973-245-6820, Cell: +1-973-626-1786,
Fax: +1-973-245-6714, , or Analysts/Investors contact: Christoph
Beumelburg, +1-973-245-6013, Cell: +1-973-519-2981, Fax:
+1-973-245-6714, Web site: http://www.basf.com/
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