Engineering News

BASF says optimistic will reach Engelhard agreement
Wed Mar 22, 2006 6:06 AM ET

FRANKFURT, March 22 (Reuters) - German chemicals maker BASF is optimistic it will reach an agreement with takeover target Engelhard, BASF's deputy CEO Eggert Voscherau said on Wednesday.

Voscherau told reporters at a news conference that BASF was now looking into Engelhard's books, adding that he hoped this would lead to talks with the U.S. company that BASF is trying to buy for $4.9 billion.

Last week, BASF said it had agreed to a confidentiality agreement that would give it access to non-public information on Engelhard.

Source: Reuters

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