ISELIN, NJ -- The Board of Directors of Engelhard Corp. (NYSE:EC), one of the largest surface and materials science companies in the world, requested that its stockholders take no action at this time in response to an unsolicited proposal from BASF (NYSE:BF) to acquire control of the company at a price of $37.00 per share.

Consistent with its fiduciary duties, the company's Board will meet to review and consider BASF’s proposal and will make a recommendation to stockholders in due course.

Merrill Lynch & Company is acting as financial advisor to Engelhard and Cahill Gordon & Reindel LLP is acting as legal advisor.

Engelhard Corporation is a surface and materials science company that develops technologies to improve customers' products and processes. A Fortune 500 company, Engelhard is a world-leading provider of technologies for environmental, process, appearance and performance applications.

Source: Engelhard Corp.

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