BASF has set the minimum acceptance threshold to 66.67% of all nominal shares. The transaction is also subject to the approval by relevant authorities and requires the removal of takeover defenses in Ciba’s statutes. If the necessary votes are gathered, an extraordinary shareholders’ meeting of Ciba Holding AG would be held at the end of November or in early December 2008. BASF expects to finalize the transaction in the first quarter of 2009 at the latest.
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