BASF Extends $37 Cash Tender Offer to April 28, 2006
BASF Aktiengesellschaft announced that, through its wholly owned subsidiary, Iron Acquisition Corporation, it has extended the expiration date of its $37 cash tender offer for all of the issued and outstanding shares of common stock of Engelhard Corporation to 5:00 p.m., New York City time, on Friday, April 28, 2006. The tender offer had previously been scheduled to expire at 5:00 p.m., New York City time, on Friday, April 14, 2006.
On April 11, 2006, BASF received a letter from Engelhard's financial advisor in which Engelhard requested a firm offer no later than April 19, 2006. BASF continues its review of non-public information provided by Engelhard and has not decided whether to submit a revised offer to Engelhard's management and, if it does, at what price.
BASF has been informed by The Bank of New York, the Depositary for the offer, that, as of 5:00 p.m., New York City time, on April 14, 2006, a total of 654,180 shares of Engelhard common stock had been tendered into the offer and not withdrawn. As a consequence of the extension of the expiration date, holders of Engelhard common stock may tender their shares until 5:00 p.m., New York City time, on Friday, April 28, 2006, unless the offer is further extended.
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