Engro Chemical.(Dawood group)(Company Profile)

At the elections to the seven-member Board of directors held at the company's Annual General Meeting (AGM) on April 10, it became clear that the first of the two 'hostile takeover' bids ever witnessed in the country's corporate history, had been averted. Months of uncertainties on whether the Dawood group (sponsors of Dawood Hercules Chemical--a competing urea producer) would take over control of Engro Chemical, were put to rest. As a result of out-of-court settlement between the parties, Dawood group took the two seats that they wanted; a stock broker sat on one of minority share