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BASF able to garner 94.59% of all Ciba shares
21 Nov '08
2 min read
The definitive final result for BASF's [BAS, BFA, AN] public tender offer to shareholders of Ciba Holding AG [CIBN], Basel, Switzerland, is available. Up to the end of the offer period, a total of 53,376,268 Ciba shares have been tendered to BASF.
Together with the 1,011,536 Ciba shares that BASF held before the publication of the pre-announcement, the 9,021,802 Ciba shares that BASF bought from the Spanish investor group Bestinver outside the public tender offer and the 1,918,547 own shares held by Ciba, this results in a participation of 65,328,153 Ciba shares. This corresponds to 94.59 percent of all issued Ciba shares.
The transfer of shares to BASF and the payment of the offer price to Ciba shareholders will take place on the settlement date, which is expected in the first quarter of 2009.
A second trading line for the tendered Ciba shares is expected to be opened on the Swiss stock exchange on December 3, 2008. This will allow the shares to be traded up to the settlement date. The shares remain tendered. On the settlement date, they are automatically transferred to BASF against payment of the offer price of CHF 50.00 irrespective of the share owner on that date.
Together with the 1,011,536 Ciba shares that BASF held before the publication of the pre-announcement, the 9,021,802 Ciba shares that BASF bought from the Spanish investor group Bestinver outside the public tender offer and the 1,918,547 own shares held by Ciba, this results in a participation of 65,328,153 Ciba shares. This corresponds to 94.59 percent of all issued Ciba shares.
The transfer of shares to BASF and the payment of the offer price to Ciba shareholders will take place on the settlement date, which is expected in the first quarter of 2009.
A second trading line for the tendered Ciba shares is expected to be opened on the Swiss stock exchange on December 3, 2008. This will allow the shares to be traded up to the settlement date. The shares remain tendered. On the settlement date, they are automatically transferred to BASF against payment of the offer price of CHF 50.00 irrespective of the share owner on that date.
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