BASF Clears Hurdle to Bag Norway's Pronova

BASF won over enough Pronova shareholders with its sweetened takeover offer to secure full control of the Norwegian fish-oils maker.

The German chemicals giant said on Monday it was tendered 97.7% of Pronova shares by the Friday deadline, more than the 90% it needed.

BASF is now setting up a squeeze-out process and expects to conclude the transaction within the next weeks, it added.