BASF
“Definitive final result” shows Ciba stake at almost 95%
The final tally in the BASF (Ludwigshafen / Germany; www.basf.com) takeover of Swiss speciality chemicals producer Ciba (Basel; www.cibasc.com) on 20 November was 94.59% of all issued shares – see Plasteurope.com of 19.11.2008. The extended CHF 50 (EUR 33.37) cash offer expired on 14 November.
BASF said a second trading line will be opened on the Swiss stock exchange on 3 December 2008, allowing shares to be traded up to the settlement date. Chairman Jürgen Hambrecht said earlier that the takeover would be regarded as a success if two-thirds of Ciba shareholders tendered (see Plasteurope.com of 15.09.2008).
BASF said a second trading line will be opened on the Swiss stock exchange on 3 December 2008, allowing shares to be traded up to the settlement date. Chairman Jürgen Hambrecht said earlier that the takeover would be regarded as a success if two-thirds of Ciba shareholders tendered (see Plasteurope.com of 15.09.2008).
24.11.2008 Plasteurope.com [212285]
Published on 24.11.2008
German version of this article...