✦ LIBER ✦
Catalytica Energy Systems announces settlement of acquisition-related payments with previous owners of SCR-Tech
- Publisher
- Elsevier Science
- Year
- 2006
- Weight
- 38 KB
- Volume
- 2006
- Category
- Article
- ISSN
- 1351-4180
No coin nor oath required. For personal study only.
✦ Synopsis
authorized the company to look at strategic alternatives, including a possible sale. There have already been inquiries from interested third parties. BASF will in the meantime seek two seats on the board at Engelhard to push its bid. BASF's offer of $37/share represents a 23% premium on Engelhard's share price. BASF believes that its offer gives Engelhard shareholders a chance to realize a return that Engelhard would not otherwise be able to achieve, either on a stand-alone basis or in connection with an alternative transaction. Engelhard does have an anti-takeover poison pill that would have to be withdrawn for the deal to proceed.