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BASF Offers to Acquire Ciba
Posted: September 15, 2008
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According to BASF, the merger of BASF and Ciba would extend BASF’s position in the plastics industry and make BASF the second-largest supplier of coating effect materials. In the fast-growing and highly profitable market for plastics additives, BASF would expand its portfolio by gaining important product segments such as UV stabilizers and antioxidants. In the area of coating effect materials, the combination of BASF and Ciba would offer an extensive range of pigments, resins and additives.
The offer is subject to a number of conditions including the tendering of at least 66.67% of all nominal shares, approval by the relevant authorities, as well as the removal of various takeover defenses in Ciba’s statutes. BASF expects to finalize the transaction in the first quarter of 2009 at the latest. The financing for the offer is in place.