European Commission clears proposed acquisition of Ciba by BASF

Satisfied that divestments offered by BASF will ensure that its takeover of Ciba will not harm competition in markets, the acquisition has been cleared. The European Commission has cleared the proposed US$2.9 bln acquisition of Ciba by BASF. The company awaits decision by the US Federal Trade Commission (FTC), and is expected to come later this month or in early April. This approval is a precondition for the closing of the acquisition with the transfer of shares to BASF and the payment of the offer price to Ciba shareholders.
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