The system automatically chooses the most recently installed provider if the version independent Prog ID is chosen.
If the connection string is missing a provider key, the provider defaults to MSDASQL which is the OLE DB Provider for ODBC.
Key: Extended Properties
The value for the key Extended Properties is passed to the respective OLE DB Provider.
If this value itself consists of key/value pairs that are separated by a semicolon, the value must be enclosed in quotes.
For example, the OLE DB provider for Microsoft Access database engine allows to specify a few options when connecting to Excel. In the following connection string, the single quotes around Excel 12.0. XML;HDR=YES;IMEX=1 make sure that the complete value is passed to the provider (rather than parsed by the OLE DB framework).
I assume that non-standard key/value pairs are passed to a provider anyway (that is, without using the Extended Properties key). The following connection string seems to be equivalent: