LUDWIGSHAFEN, Germany, May 30 (UPI) -- Engelhard Corp., a U.S. catalyst maker, has accepted a $5 billion takeover offer from Germany's BASF AG chemical company.
The all-cash agreement, announced Tuesday by BASF, caps months of sometimes acrimonious back-and-forth between the two big corporations.
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Engelhard shareholders are expected to tender their shares, upon the board's recommendation.
BASF has about 81,000 employees worldwide.