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Ciba Informs on Planned Takeover by BASF

Published on 2008-12-24. Author : SpecialChem

Ciba confirms that it has received a request for additional information, commonly referred to as a "Second Request," from the U.S. Federal Trade Commission regarding BASF's proposed acquisition of Ciba Holding AG, which was announced on September 15, 2008.

This request for additional information from the FTC is a normal and expected part of the regulatory process under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

Ciba will comply with the Second Request timely and work with the FTC, European Commission and other national regulatory authorities to ensure a successful and expeditious closing of the acquisition.

About Ciba Inc.:

Ciba is a leading global company dedicated to producing high-value effects for its customers' products. We strive to be the partner of choice for our customers, offering them innovative products and one-stop expert service. We create effects that improve the quality of life - adding performance, protection, color and strength to plastics, paper, automobiles, buildings, home and personal care products and much more. Ciba is active in more than 120 countries around the world and is committed to being a leader in its chosen markets. In 2007, the Company generated sales of CHF 6.5 billion from continued operations and invested over CHF 260 million in R&D.

Source: Ciba


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