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Shareholders approve Ciba - BASF merger

25-Jun-2009

Shareholders voted in favour of the merger of BASF and Ciba at the annual general meeting of Ciba in Basel.

Ciba shareholders approved BASF as the receiving company and Ciba the transferring company. Ciba Holding will now be dissolved on the entry of the merger in the commercial register.

Cash compensation of CHF 50 will be paid out for all of the remaining shares of Ciba Holding. In addition, the shareholders endorsed the proposal by the board of directors not to pay out any dividends.

BASF acquired Ciba for €3.8bn in a deal closed in April following approval from the competition authorities both in the US and Europe.

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