BASF Gets Green Light From EU To Buy Ciba

Law360, New York (March 12, 2009, 12:00 AM EDT) -- The European Commission has given BASF SE permission to buy smaller rival Ciba of Switzerland for 50 Swiss francs ($42) per share after BASF agreed to divest itself of some of its paper, dyestuffs, plastics and skin care products.

“I am satisfied that the divestments offered by BASF will ensure that its takeover of Ciba will not harm competition in markets for a range of chemicals used in consumer goods such as skin care products, paper and plastics,” European competition commissioner Neelie Kroes said Thursday....
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