Jones Lang LaSalle


BASF 'disappointed' by Engelhard

The stalemate continues between New Jersey-based Engelhard and BASF, the big German chemical maker trying to acquire Engelhard.

In a statement, BASF said it is "disappointed" it has been unable to reach a confidentiality agreement with Engelhard to discuss financial details.

BASF also said it has extended the deadline for its cash tend offer of $37-per-share until march 17 from a previous deadline of March 3.

Engelhard, which opposes the $4.9 billion, unsolicited offer made in January, has said it is exploring other options, including the sale of the company.

Engelhard, the Fortune 500 company that makes specialty chemicals, is based in Iselin.