News International Sugar Journal

BASF to acquire industrial enzymes producer Verenium [Registered]

The world’s biggest chemical maker BASF has agreed to buy the US start-up Verenium created in 2007 at a cash offer price of $4 for a share or about $62 million including debt. The price paid is 56 percent higher than the six-month average price of Verenium and gives BASF access to a large and diverse enzyme library that the company had collected from microorganisms collected from deep sea thermal vents, Arctic tundra, soda lakes, and remote areas of the world. Laurence Alexander, an analyst at Jefferies wrote in a research note that “this deal should enhance the growth profile…

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