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People & Business :: M&A

BASF to begin squeeze-out process for Pronova, plans to finalize deal in first quarter

2:42 AM MST | January 21, 2013 | Natasha Alperowicz

BASF announced today that its cash offer to shareholders of Pronova BioPharma (Lysaker, Norway), which ended on 18 January 2013, resulted in 293,975,655 Pronova shares being tendered. This corresponds to 97.7% of all Pronova shares. Based on all outstanding shares and including all net financial liabilities, the enterprise value would be almost 5 billion Norwegian kroner ($892.4 million). BASF says that all regulatory approvals required for completion of the voluntary offer have been obtained.   The next step in the acquisition process...

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