BASF comes closer to acquiring Ciba
BASF representatives elected to Ciba’s Board of Directors
The election is also effective as of the settlement date. All current members of Ciba’s Board of Directors will resign as of the settlement date. The motions were approved by significantly more than 90 percent of the share capital represented. As a result, further conditions of BASF’s public tender offer have been fulfilled. The completion of the transaction is still subject to approval by the relevant antitrust authorities, which is expected in the first quarter of 2009.
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