Norwegian Fish Oil Firm Accepts $847M Offer From BASF

Law360, New York (November 21, 2012, 2:31 PM EST) -- German chemical conglomerate BASF SE has launched a nearly 5 billion kroner bid for Norwegian fish oil producer Pronova BioPharma ASA that already has the backing of private equity investors who control 60 percent of the target company's share capital, the parties announced Wednesday.

BASF's offer consists of a 12.50-kroner-per-share cash component that carries an equity value of 3.76 billion kroner. Combined with the net debt the German company would assume on the acquisition, BASF's bid values Pronova at 4.845 million kroner ($847 million), according to...
To view the full article, register now.