Swiss take-over board reject attempt to extend offer period for Ciba acquisition

The Swiss Take-over Board has rejected a request from the Bestinver Investment Group to extend the offer period for the public take-over of Ciba Holding AG by BASF.  As a result, the offer period will end on  the 28th October, 2008 (4pm CET) as specified in the offer prospectus.

BASF has welcomed the decision and are confident that more than 66.67% of the shares will be tendered by the end of the offer period.