Ciba shares tendered to BASF top 94.5%

17 November 2008 09:35  [Source: ICIS news]

LONDON (ICIS news)--More than 94.5% of Ciba Specialty Chemical shares had been tendered to BASF by the end of its extended offer period on 14 November, BASF said on Monday.

The chemical giant’s takeover of the Basel, Switzerland based specialties maker is expected to settle during the first quarter of 2009.

BASF said it would release final results on 20 November of the tenders made to the end of the additional acceptance period for Ciba.

These include shares tendered during the initial and extended offer periods and the Ciba shares that BASF bought from Bestinver Group outside the public tender offer.

For more on BASF and Ciba visit ICIS company intelligence
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By: Nigel Davis
+44 20 8652 3214

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