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FTC Orders BASF Divestitures In $5.1B Ciba Takeover

Law360 (April 2, 2009, 12:00 AM EDT) -- BASF SE has agreed to sell off certain assets in order to move forward with its proposed $5.1 billion acquisition of rival chemical manufacturer Ciba Holding Inc. after the Federal Trade Commission found that the merger would violate federal law by reducing competition in the worldwide markets for two high-performance pigments.

The FTC said Thursday that BASF had settled charges that the proposed deal would be anti-competitive by agreeing to a consent order that requires it to sell all assets, including the intellectual property related to...
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