BASF Acquires Ciba Shares from Bestinver Group
The Spanish investor group Bestinver has sold its stake of approximately 13% in Ciba Holding AG to BASF outside the public tender offer. The price per share is CHF 49.50. BASF will provide assurance to Ciba Holding AG that it will not exercise the voting rights attached to these shares before the settlement date.
Under the terms of its public tender offer, BASF is offering CHF 50.00 in cash for each nominal share in Ciba. The additional acceptance period for the offer ends today (14 November) at 4 p.m. Central European Time (CET).
By the end of the additional acceptance period, BASF expects to reach a figure of significantly more than 90 % of Ciba shares.
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