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BASF Clinches Ciba Acquisition

9:32 AM MST | November 11, 2008 | Chemical Week Editorial Staff

BASF says it holds at least 68.1% of the share capital of Ciba Specialty Chemicals following BASF’s recently announced SF50/share public offer for Ciba. The offer period ended October 28. BASF made the offer conditional on acceptance by shareholders representing at least 66.7% of Ciba’s stock. An additional acceptance period began on November 3 and ends on November 14, BASF says. Ciba shareholders who have so far not tendered their shares may do so at the offer price during this period, BASF...

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