Gannon on Investing details the current hostile bid by BASF (BF) for Engelhard Corp. (EC) and today’s response tender offer by Engelhard. After reviewing the details this morning and discussing it with other members of Fat Pitch Financials Contributor’s Corner, I decided to add a small position (odd-lot potential) of this stock in the Special Situations Real Money Portfolio.
Geoff Gannon also discusses some analysis of this development by Value Discipline and adds some of his own analysis. It will be interesting to see how this all plays out, especially since now that I’m invested in Engelhard. It’s also really cool to see the value investing blog community come together to provide in depth coverage of this opportunity.