Chemical giant BASF claims success in bid to take over Norway's Pronova
January 22, 2013, 4:27 pm TWN
FRANKFURT -- BASF, the world's biggest chemicals maker, announced on Monday the success of its takeover of Norwegian drugmaker Pronova BioPharma, with nearly 98 percent of shareholders accepting the group's cash offer.
BASF said in a statement that 97.7 percent of Pronova's shareholders had agreed to hand in their shares for a price of 13.50 kroner (US$2.46) each.
With a total 293.9 million shares surrendered, that valued the Norwegian specialist in omega-3 fatty acids at 4.996 billion kroner or 684 million euros in total, including all outstanding shares and liabilities, the statement said.