BASF wins Engelhard bid

Published: 4-Jul-2006


After months of rejection from Engelhard Corporation, BASF has completed its acquisition of the company and Engelhard is now a wholly owned subsidiary of BASF. The takeover is believed to have cost more than $5bn and is the largest acquisition in the German group's history.

"Our goal is to make Engelhard an integral part of BASF to leverage both companies' strong talent, technology and unique applications expertise," said Dr Jürgen Hambrecht, chairman of the board of executive directors of BASF Aktiengesellschaft in a statement. "Our customers will benefit from the accelerated development of products with superior performance through the combined R&D capabilities of our companies."

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