BASF launches euro 3.8bn takeover of Ciba

摘要

BASF has launched an agreed take-over bid for Ciba of Switzerland that values the business at CHF6.1bn(euro 3.8bn).The German chemical group is offering CHF50 a share for the Basel-based speciality chemical maker,a premium of 30% over the closing price prior to the bid.It hopes to complete the deal in the first quarter of next year.