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People & Business :: Companies

Hambrecht: A Hostile Takeover of BASF is Possible; No Immediate Plans to Restart Ludwigshafen Cracker

9:24 AM MDT | August 24, 2009 | Natasha Alperowicz

BASF chairman Juergen Hambrecht, in a wide ranging interview with German weekly newspaper Wirtschaftswoche, published today, says a hostile takeover of BASF is possible, given that the company's market capitalization is relatively low. However, potential bidders for BASF, such as leading investment funds or financial instituations, would have to pay €70 billion for the company, twice the market price, and they would need to put the money up front and "the banks would need to lend it to them," Hambrecht says. An attack is nevertheless possible, he...

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