BASF: EU Commission Approves Acquisition of Ciba
The European Commission approved the acquisition of Ciba Holding AG by BASF SE. The approval is subject to the divestiture of individual product lines and production plants as well as a product license. The conditions apply to products that accounted for sales of less than EUR 100 million in 2008.
The decision by the U.S. Federal Trade Commission (FTC) is still pending. This approval is a precondition for the closing of the acqui-sition with the transfer of shares to BASF and the payment of the offer price to Ciba shareholders. BASF is confident of receiving ap-proval by late March/early April.
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