September 23, 2013

BASF to acquire enzymes biz Verenium

Traditional chemical firms are more and more looking into biotechnology to expand their products and feedstock portfolio. There was the acquisition of Danisco by DuPont in 2011, DSM's acquisition of Martek in late 2010, Lanxess investing in evocatal GmbH last June, and BASF acquiring Henkel's detergent enzymes technology.

BASF announced last Friday that it is planning to acquire California, US-based enzymes firm Verenium for $62m (EUR48m) in cash. The acquisition is expected to close in the fourth quarter of 2013.

Holders of outstanding shares of Verenium's common stock will receive $4/share, representing a 56% premium to the volume weighted average closing price of Verenium's stock 6 months before the announcement of the transaction.

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