BASF Reviewing Engelhard's Response
24 January 2006 - 11:45AM
PR Newswire (US)
LUDWIGSHAFEN, Germany, Jan. 23 /PRNewswire-FirstCall/ -- BASF
Aktiengesellschaft (Frankfurt: BAS, NYSE: BF [ADR], LSE: BFA, SWX:
AN), the world's leading chemical company, today released the
following statement: "BASF is aware that on January 23rd, 2006,
Engelhard (NYSE:EC) announced that its Board of Directors rejected
BASF's all-cash offer of $37 per share for all of Engelhard's
outstanding shares and filed its response to BASF's tender offer
with the U.S. Securities and Exchange Commission. BASF is in the
process of reviewing Engelhard's filings and will respond as
appropriate." 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 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 2004, BASF had approximately 82,000 employees and posted
sales of more than euro 37 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 is provided
for informational purposes only and is neither an offer to purchase
nor a solicitation of an offer to sell any securities of Engelhard
Corporation. Any offers to purchase or solicitation of offers to
sell will be made only pursuant to a tender offer statement
(including an offer to purchase, a letter of transmittal and other
offer documents) which was filed with the U.S. Securities and
Exchange Commission ("SEC") on January 9, 2006. Engelhard
stockholders are advised to read these documents and any other
documents relating to the tender offer that are filed with the SEC
carefully and in their entirety because they contain important
information. Engelhard stockholders may obtain copies of these
documents for free at the SEC's website at http://www.sec.gov/ or
by calling Innisfree M&A Incorporated, the Information Agent
for the offer, at +1 877 750 5837 (Toll Free from the U.S. and
Canada) or 00800 7710 9971 (Toll Free from Europe). 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 Form 20-F filed with the SEC. Michael
Grabicki Phone +49 621 60-99938 Cell: +49.172.749.18.91 Fax +49 621
60-92693 US media: Timothy Andree Phone:973 245-6078 Fax:973
245-6715 Analysts/Investors: Magdalena Moll Phone:+49 621 60-48002
Fax:+49 621 60-22500 First Call Analyst: FCMN Contact:
EMarks@BrunswickGroup.com DATASOURCE: BASF Aktiengesellschaft
CONTACT: Michael Grabicki, +49-621-60-99938, or Cell:
+49-172-749-18-91, or Fax: +49-621-60-92693, ; or US media: Timothy
Andree, +1-973-245-6078, or Fax: +1-973-245-6715, ; or
Analysts-Investors: Magdalena Moll, +49-621-60-48002, Fax:
+49-621-60-22500, Web site: http://www.basf.com/
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