LUDWIGSHAFEN, GERMANY – M&A activitie continues in the chemical industry. BASF SE the world's largest chemical company has agreed to buy Ciba Holding AG for 6.1 billion Swiss francs ($5.5 billion). BASF will pay 50 francs in cash for each Ciba share, 32% over the September 12th closing price.
The merger of BASF and Ciba improves the BASF position in the plastics and coatings industries. Ciba supplies many well known photo initiators that are used in the formulation of dry films, liquid photoimagable resists and solder mask materials used in PCB and IC fabrication.