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news.Germany-based diversified chemical company BASF has acquired Norwegian pharmaceutical company Pronova BioPharma and now holds 98.19% of Pronova shares.
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As part of the acquisition, the tendered shares were also transferred to BASF.
In addition, BASF is setting up a compulsory acquisition process (squeeze out) to acquire the remaining shares belonging to minority shareholders of Pronova, in accordance with the Norwegian Public Limited Liability Companies Act section 4-25 and the Securities Trading Act section 6-22.
BASF said the squeeze out is expected to be implemented within the next days.
Under the acquisition, BASF will integrate Pronova into its nutrition and health division as part of omega-3-business.
BASF is offering NOK13.50 per share as the offer price, which is equal to the offer price in the voluntary offer made by the company.