NEW YORK (AFX) - German chemical maker BASF AG said Monday it completed its $5 billion acquisition of U.S.-based chemical company Engelhard Corp.
Engelhard will become a wholly owned subsidiary of BASF and its shares will no longer trade on the New York Stock Exchange.
'Our goal is to make Engelhard an integral part of BASF to leverage both companies' strong talent, technology and unique applications expertise,' said BASF Chairman Jurgen Hambrecht in a statement. 'Integration teams consisting of BASF and Engelhard employees will assess the combined business needs.'
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