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BASF Publishes Takeover Prospectus for Ciba

1:25 AM MDT | October 1, 2008 |

Alex Scott

BASF today published a share offer prospectus for the previously disclosed takeover of Ciba. BASF has set the minimum acceptance threshold to 66.67% of all nominal shares. BASF has made a cash offer of SF50 ($44.7)/share to Ciba’s shareholders, which values Ciba at SF3.4 billion. The transaction remains subject to the approval by the relevant authorities as well as “the removal of various takeover defenses in Ciba’s statutes,” BASF says.   If the minimum acceptance threshold is reached, Ciba plans to convene an extraordinary...

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