BASF to study Engelhard books | Chemical & Engineering News
Volume 84 Issue 12 | p. 21 | Concentrates
Issue Date: March 20, 2006

BASF to study Engelhard books

Department: Business

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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