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BASF to acquire Pronova BioPharma for $842 million

11:43 PM MST | November 20, 2012 | Deepti Ramesh

BASF says it will acquire Pronova BioPharma (Lysaker, Norway), a pioneer in the field of research, development, and manufacturing of omega-3 fatty acids. BASF has reached an agreement with Pronova to make a recommended voluntary public takeover offer to Pronova’s shareholders, and will offer to pay 12.50 Norwegian krone (NK) in cash for each Pronova share. The offer corresponds to a premium of 24% above the average share price for Pronova’s shares in the six months prior to announcement of the public takeover offer, BASF says. Based on all outstanding...

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