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BASF increases offer price for acquisition of Pronova BioPharma

11:43 AM MST | January 15, 2013 | Sotirios Frantzanas

BASF says it has increased its cash-offer price for the proposed acquisition of all of the issued and outstanding shares of Pronova BioPharma (Lysaker, Norway), to 13.50 Norwegian kroner/share ($2.43). The previous offer price was NK12.50/share. BASF has extended the offer period, in December, until 18 January 2013, and said that was the maximum extension of the offer period. "The increased offer corresponds to a premium of 34% above the volume-weighted average share price for Pronova's shares in the 6 months prior to announcement of the public...

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