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...“These markets still need to undergo a repricing . . . in order to adapt to the new reality in the covered bond market,” said Fritz Engelhard, analyst at Barclays Capital....
...After five months of dogged pursuit, BASF, the chemicals group, looks set to buy Engelhard, the US maker of catalysts, which had resorted to many a trick to squeeze more money from the Germans....
...Deals included Mittal Steel’s €18bn bid for Arcelor, Linde’s £8bn bid for BOC and BASF’s $4.9bn offer for Engelhard....
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