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Public Tender Offer by BASF for Ciba

Public tender offer by BASF for Ciba

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By: DAVID SAVASTANO

Editor, Ink World Magazine

BASF has announced a public tender offer for all outstanding shares of Ciba Holding AG at CHF 50.00 per Ciba share. The offer equates to a premium of 64.3% over the volume-weighted average price of Ciba shares over the last 60 trading days and a premium of 32% over the closing share price on September 12, 2008. Ciba’s board of directors has thoroughly examined the offer and additionally commissioned an independent fairness opinion. On this basis, the board of directors recommends that sha...

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