Manufacturing Industry

BASF wraps up Engelhard.(buy of Degussa's construction chemicals division)(Brief article)

Purchasing, July, 2006

Staff Everything has its price and for Engelhard shareholders, that price was $39. BASF now controls the majority of Engelhard after investors holding 89% of Engelhard stock agreed to a buyout at $39 a share in June. BASF CEO Juergen Hambrecht said in an interview, "I will admit that it took us a bit longer to reach our goal." The Engelhard deal is BASF's third this year, following its buy of Degussa's construction chemicals division for $2.8 billion and a JohnsonDiversey unit for $470 million.

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