BASF, the world’s biggest chemicals company, continued its acquisition drive with an agreed offer to buy Switzerland’s ailing Ciba for SFr3.4bn ($3.04bn).
Ciba, which had sales of SFr6.52bn and 13,000 employees last year, is one of the most famous names in Swiss industry and a cornerstone of its home town Basel. But while prized for its expertise and patents, the company has been on a downward spiral for some years.
