The offer period expires on 18 January and will not be extended.
The increased offer corresponds to a premium of 34% above the volume-weighted average share price for Pronova’s shares in the six months prior to announcement of the public takeover offer. Based on all outstanding shares and including all net financial liabilities, the enterprise value would be NOK 4,996m (approximately €684m).
Michael Heinz, member of the board of executive directors of BASF and responsible for the Performance Products segment, which includes the Nutrition & Health division, said: “We thank all those shareholders of Pronova who have accepted the offer to date.
“Following a comprehensive due diligence review and taking into account the opportunities and foreseeable risks in Pronova’s business this increased offer is our last, best and final offer.
“We believe that our offer represents the full and fair value to all shareholders and that it provides the best solution for Pronova’s stakeholders.”
Source: BASF
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