BASF clinches Pronova BioPharma acquisition

BASF says that its increased cash offer to shareholders of Pronova BioPharma (Lysaker, Norway) was successful. The offer, which expired on 18 January, resulted in almost 294 million shares being tendered, corresponding to 97.7% of all Pronova shares. The enterprise value of the acquisition, based on all outstanding shares and including all net financial liabilities, is almost 5 billion Norwegian kroner ($889 million), BASF says. All regulatory approvals required for completion of the offer have been obtained. BASF initially offered NK12.50/share in November 2012...

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