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BASF Secures Additional Ciba Shares

11:06 AM MST | November 18, 2008 | Chemical Week Editorial Staff

BASF has acquired Bestinver Group’s (Madrid) 13% stake in Ciba Specialty Chemicals for SF49.50/share. Bestinver was Ciba’s biggest shareholder. The deal took place outside BASF’s ongoing SF50/share public tender offer for Ciba. BASF expects its eventual stake in Ciba to rise to “significantly more than...

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