The U.S. Federal Trade Commission (FTC) and the Chinese merger control authority MOFCOM approved the acquisition of Ciba Holding AG by BASF. No conditions were imposed beyond those required by the European Commission. Furthermore, the condition imposed by the European Commission to reach a sales agreement for Ciba's business with the light stabilizer CHIMASSORB 119 FL (HALS) before closing has been fulfilled. The buyer is the Italian company Sabo S.r.l. As a result, the conditions for the settlement of the tender offer are now fulfilled (closing): The offer price of CHF 50.00 per tendered share can be paid and the Ciba shares transferred to BASF. As of April 9th, BASF holds approximately 95.8 percent of Ciba shares.
Acquisition of Ciba by BASF
Approved by merger control authorities
- May 14, 2009
- 336 views
Acquisition of Ciba by BASF
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