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BASF makes offer for Ciba
BASF, which supplies materials to the packaging industry, has made an offer to acquire Ciba Holding for CHF6.1bn (£3bn).
The merger would extend BASF's leading position as a preferred supplier to the plastics industry and make it the second largest supplier of coating effect materials.
In a statement BASF said: "With the acquisition of Ciba, BASF is strengthening its portfolio and expanding its leading position in specialty chemicals with products and services for a variety of customer industries."
The acquisition is subject approval by shareholders and the Swiss Takeover Board.
Merger would extend BASF's leading position as preferred supplier to the plastics industry
