BASF clears hurdle to bag Norway's Pronova

FRANKFURT Mon Jan 21, 2013 2:38am EST

FRANKFURT Jan 21 (Reuters) - BASF won over enough Pronova shareholders with its sweetened takeover offer to secure full control of the Norwegian fish-oils maker.

The German chemicals giant said on Monday it was tendered 97.7 percent of Pronova shares by the Friday deadline, more than the 90 percent it needed.

BASF is now setting up a squeeze-out process and expects to conclude the transaction within the next weeks, it added. (Reporting by Ludwig Burger)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.