Deals & Cases

Deals & Cases

September 2008

BASF announced Public Tender Offer for Ciba

On September 15, 2008 BASF SE, Ludwigshafen, Germany, published the pre-announcement by a subsidiary for a public tender offer for all publicly held shares of Ciba Holding AG, Basel, Switzerland. The offer price amounts to CHF 50 per share, corresponding to an enterprise value of CHF 6.1 billion. The transaction is subject to a number of conditions, including an acceptance threshold of 66.67% of all Ciba shares. The offer prospectus is expected to be published on October 1, 2008.

BASF SE is being advised by Lenz & Staehelin in this transaction. The team is led by Rudolf Tschäni and Hans-Jakob Diem and comprises Tino Gaberthüel, Sandra Zweifel, Philipp Jermann, Roman Bruhin and Jacques Iffland (all Corporate), Marcel Meinhardt (Antitrust) and Pascal Hinny (Tax). Freshfields Bruckhaus Deringer advises BASF SE with regard to merger filings in the EU and USA, the financing and certain corporate matters. Ciba is being advised by Homburger AG and Shearman & Sterling.

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