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Verenium agrees to be acquired by BASF for $4.00 per share in cash

Verenium announced it has entered into a definitive merger agreement with BASF, a leading chemicals company, under which BASF will commence a cash tender offer for all of the outstanding shares of Verenium's common stock. This agreement has been unanimously approved by both Verenium's and BASF's boards. Under the terms of the merger agreement, holders of outstanding shares of Verenium's common stock will receive $4.00 per share, representing a 56% premium to the volume weighted average closing price of Verenium's common stock in the six months prior to announcement of the transaction. Each of the directors and officers of Verenium has entered into tender and support agreements pursuant to which they have agreed to tender all of their shares.