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BASF and Engelhard have entered into a confidentiality agreement that allows BASF to review nonpublic information provided by Engelhard. As a result, BASF has extended its $37-per-share takeover offer for Engelhard from March 17 to April 14. Engelhard has rejected the offer as inadequate and earlier said it would allow BASF to review nonpublic information only if it withdrew its hostile bid. BASF doesn't seem to have agreed to this provision, but the confidentiality agreement signals a thawing of relations between the firms.
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