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BASF Closer to Ciba Acquisition
Posted: November 17, 2008The additional acceptance period for BASF’s [BAS, BFA, AN] public tender offer to shareholders of Ciba Holding AG ended Nov.14, 2008. During the offer period, a total of 53,350,051 Ciba shares have been tendered to BASF. Together with the 1,011,536 Ciba shares that BASF held before the publication of the pre-announcement, the 9,021,802 Ciba shares that BASF bought from the Spanish Bestinver Group (announced November 12) outside the public tender offer and the 1,918,547 own shares held by Ciba, this results in a participation of 65,301,936 Ciba shares—94.55% of all issued Ciba shares.
“We would like to thank all Ciba shareholders who tendered their shares and thus established an important step toward the complete acquisition of Ciba by BASF. We are confident of successfully completing the transaction as planned,” said Jürgen Hambrecht, chairman of the board of executive directors, BASF SE.
This result is preliminary and subject to the final analysis of the tender declarations of Ciba shareholders submitted during the additional acceptance period. BASF will publish the definitive final result on November 20.