CIBA INFORMS ON PLANNED TAKEOVER BY BASF (12/23/08)
December 23, 2008
Ciba has confirmed that it has received a request for additional information - commonly referred to as a “Second Request” - from the U.S. Federal Trade Commission (FTC) 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 (HSR). Ciba says it will comply with the Second Request timely and work with the FTC, European Commission, and other national regulatory authorities to ensure a successful closing of the acquisition.