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BASF Holds 66.6% Stake in Ciba

2:59 AM MDT | October 29, 2008 | Deepti Ramesh

BASF says that with the end of the previously announced tender offer for Ciba Specialty Chemicals on October 28, the company now holds 66.6% of the share capital and voting rights of Ciba. This result is preliminary and BASF will publish the definitive interim result on November 3, the company says. By the end of the tender offer, more than 45 million of Ciba shares were tendered to BASF and BASF already had another 1 million shares of Ciba, BASF says. BASF first announced plans to acquire Ciba via a public offer last September. The Swiss Takeover Board rejected...

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