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Ciba board recommends shareholders approve offer
September 15, 2008
By: TOM BRANNA
Editor
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 recommends that shareholders accept BASF’s offer and tender their Ciba shares. “Against the backdrop of increasingly challenging conditions within our industry, this is a ...
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