BASF extends Engelhard tender offer

Published: 6-Mar-2006

BASF has extended the expiration date of its cash tender offer for Engelhard Corporation Friday, March 17, 2006.


BASF has extended the expiration date of its cash tender offer for Engelhard Corporation Friday, March 17, 2006.

The tender offer had previously been scheduled to expire on Friday, March 3. As of 5:00pm New York City time on March 3, a total of 649,277 shares of Engelhard common stock had been tendered into the offer and not withdrawn.

'We are disappointed that we have been unable to reach an agreement with Engelhard on a Confidentiality Agreement, but the terms proposed by Engelhard were unacceptable and not in the best interest of Engelhard's stockholders,' said BASF spokesman Michael Grabicki.

As of March 3, BASF had received anti-trust clearance from all major regulatory agencies necessary for the consummation of its acquisition of Engelhard, including those of the US and the EU.

  

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