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BASF increases offer for Pronova BioPharma

7:14 AM MST | January 18, 2013

BASF 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 ($2.44). The previous offer price was NK12.50/share. BASF raised the offer because by last week it had received acceptances from Pronova shareholders representing about 70% of the issued shares and votes in Pronova. The offer is conditional on BASF receiving acceptances for more than 90% of the total share capital of Pronova. The offer period, which BASF extended last month, was...

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