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BASF to acquire US enzyme biotechnology company Verenium
4:50 AM MDT | September 20, 2013 | Deepti Ramesh
BASF says that its BASF Corp. subsidiary has entered into an agreement to begin a cash tender offer for all the outstanding shares of common stock of industrial biotechnology company Verenium (San Diego), for $4/share. Based on all outstanding shares and including all net financial liabilities, the enterprise value would be about $62 million, BASF says. Verenium, which is focused on the development and commercialization of high-performance enzymes, recorded sales of $57 million in 2012. The offer corresponds to a premium of 56% above the volume-weighted average...
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