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Markets :: Alternative Fuels :: Biorefineries

BASF commences tender offer to Verenium shareholders

8:51 AM MDT | October 2, 2013 | Rebecca Coons

BASF announced today that its United States affiliate, BASF Corporation, is commencing the previously announced tender offer for enzyme producer Verenium Corporation (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. The offer price corresponds to a premium of 56% above the volume-weighted average price for Verenium's shares in the six months prior to the first announcement of the transaction. The offer period is scheduled to start today and expire at...

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