Engelhard Corp. Purchase

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.

3 thoughts on “Engelhard Corp. Purchase

  • April 28, 2006 at 9:28 pm


    I suppose you wouldn’t have bought EC unless you knew their self-tender had a provision for odd lot priority. Where did you find the information?

  • April 28, 2006 at 9:38 pm

    I do not yet know whether Engelhard will include an odd lot preference for their self-tender. I am taking a calculated risk that they very well might include a provision for odd lot priority.

  • May 15, 2006 at 9:18 pm

    Was there a payoff for jumping the gun?!!

    Just kidding!!

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