BASF SE / Offer 15.09.2008 Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- BASF makes offer to acquire Ciba - Cash offer of CHF 50.00 per share provides attractive premium - Cibas Board of Directors supports offer - BASF to expand its leading position in specialty chemicals with additional products and services - Repositioning and restructuring of paper chemicals operations to create leading supplier with extensive portfolio - Basel to remain an important site for parts of the combined business BASF [BAS, BFA, AN] plans to acquire Ciba Holding AG, Basel, Switzerland, [CIBN], a leading specialty chemical company, and will make a public takeover offer to Cibas shareholders. BASF will pay CHF 50.00 in cash for each nominal share in Ciba. BASF and Ciba have reached a transaction agreement in which the Board of Directors of Ciba supports BASFs attractive offer and recommends its acceptance to Cibas shareholders. The offer corresponds to a premium of 32 percent above the closing price for Cibas shares on September 12, 2008 and a premium of 60 percent above the volume-weighted average share price for Ciba shares in the 30 days prior to announcement of the public takeover offer. Based on all outstanding Ciba shares and including all net financial liabilities and pension obligations, the enterprise value would be CHF 6.1 billion (approximately 3.8 billion). With the acquisition of Ciba, BASF is strengthening its portfolio and expanding its leading position in specialty chemicals with products and services for a variety of customer industries, in particular the plastics and coatings industries as well as water treatment. In paper chemicals, the company will intensify the urgently needed restructuring process and become the leading supplier with an extensive portfolio. Basel will remain an important site for parts of the combined business, in particular research. BASF will establish a global operating division in Basel. Offer period expected to begin on October 1, 2008 BASF will today (September 15, 2008) publish the formal advance notification in which the offer is officially announced and which contains all the fundamental information on the planned offer. The offer prospectus is scheduled to be published on October 1, 2008. The offer is expected to begin with the publication of the offer prospectus following the approval of the offer by the Swiss Takeover Board and, subject to later extension, will be valid for 20 trading days plus an obligatory extension of 10 trading days in accordance with Swiss law. The offer is subject to a number of conditions. These include the tendering of at least 66.67 percent of all nominal shares, approval by the relevant authorities, as well as the removal of various takeover defenses in Cibas statutes. BASF expects to finalize the transaction in the first quarter of 2009 at the latest. The financing for the offer is in place. Selected key data for BASF and Ciba (2007)<pre> BASF Ciba Sites ~100 major sites ~60 Employees ~95,000 ~13,000 Sales 57.9 billion 4.0 billion EBIT before special items 7,614 million 336 million EBITDA margin 18.2 percent* 13.9 percent*</pre> * before special items Michael Grabicki Phone: +49 621 60-99938 Fax: +49 621 60-92693 michael.grabicki@basf.com DGAP 15.09.2008 --------------------------------------------------------------------------- Language: English Issuer: BASF SE Carl-Bosch-Straße 38 67056 Ludwigshafen Deutschland Phone: +49 (0)621 60-0 Fax: +49 (0)621 60-4 25 25 E-mail: info.service@basf.com Internet: www.basf.com ISIN: DE0005151005, DE000A0JRFB0, Börse Dublin, Frankfurter Wertpapierbörse, , DE000A0JRFA2, Börse Dublin, Frankfurter Wertpapierbörse, , DE000A0JQF26, Börse Dublin, Frankfurter Wertpapierbörse, , DE000A0EUB86, Frankfurter Wertpapierbörse, , DE0008846718, Frankfurter Wertpapierbörse, WKN: 515 100, WKN A0JRFB, Börse Dublin, Frankfurter Wertpapierbörse, , WKN A0JRFA, Börse Dublin, Frankfurter Wertpapierbörse, , WKN A0JQF2, Börse Dublin, Frankfurter Wertpapierbörse, , WKN A0EUB8, Frankfurter Wertpapierbörse, , WKN 884671, Frankfurter Wertpapierbörse, Indices: DAX, EURO STOXX 50 Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard), Hannover, Düsseldorf, Stuttgart, München, Hamburg; Terminbörse EUREX; Foreign Exchange(s) London, SWX End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: BASF SE: BASF makes offer to acquire Ciba
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