More than 97% of Pronova’s shareholders accept BASF’s offer for Pronova BioPharma
The extended offer period for BASF’s voluntary cash offer to shareholders of Pronova BioPharma ASA (Pron) ended on January 18, 2013, 16:30 CET. During the offer period, a total of 293,975,655 Pronova shares have been tendered to BASF. This corresponds to 97.7% of all Pronova shares. Based on all outstanding shares and including all net financial liabilities, the enterprise value would be NOK 4,996 million (approximately €684 million).
All regulatory approvals required for completion of the voluntary offer have been obtained. The next step in the acquisition process will be the settlement of the offer within the following 14 days. The transfer of shares to BASF and the payment of the offer price will take place on the settlement date . BASF is setting up a compulsory acquisition process in order to acquire the remaining shares after closing. BASF expects to finalize the transaction within the next weeks.
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