BASF Commences Tender Offer to Verenium's Shareholders

BASF Commences Tender Offer to Verenium's Shareholders 
Offer Period From October 2 to October 31, 2013 
Cash Offer of US$4.00 per Share 
LUDWIGSHAFEN, GERMANY -- (Marketwired) -- 10/02/13 --  BASF
(FRANKFURT: BAS) (LSE: BFA) (SIX: AN) today announced that its U.S.
affiliate, BASF Corporation, is commencing a tender offer for the
acquisition of Verenium Corporation, San Diego, California (NASDAQ:
VRNM), at a cash offer price of US$4.00 for each Verenium share. The
offer period is scheduled to start today and to expire at 9:00 a.m.
Eastern Time (USA) on October 31, 2013, unless otherwise extended or
terminated. The offer price corresponds to a premium of 56 percent
above the volume-weighted average share price for Verenium's shares
in the six months prior to the first announcement of the transaction. 
BASF Corporation's subsidiary, Pastinaca Acquisition Inc., is filing
a Tender Offer Statement with the United States Securities and
Exchange Commission (SEC) today. Additionally, Verenium is filing a
Solicitation/Recommendation Statement with the SEC today. This filing
includes the recommendation of the Verenium board of directors that
Verenium's stockholders tender their shares in the tender offer. 
Following the completion of the tender offer, BASF expects to
consummate a merger in which the remaining Verenium stockholders will
receive the same cash price per share as in the tender offer. The
tender offer and merger are subject to customary closing conditions,
including the acquisition by Pastinaca of at least a majority of the
Verenium shares in the tender offer. 
Important notice
 The tender offer is being made pursuant to a tender
offer statement and related materials. Verenium shareholders are
advised to read the tender offer statement and related materials,
which will be filed by BASF with the SEC. The tender offer statement
(including the offer to purchase, letter of transmittal and related
tender offer documents) to be filed by BASF with the SEC and the
solicitation/recommendation statement to be filed by Verenium with
the SEC will contain important information which should be read
carefully before any decision is made with respect to the tender
offer. The tender offer statement and the solicitation/recommendation
statement will be mailed t
o all Verenium shareholders of record. The
tender offer statement and related materials may be obtained at no
charge by directing a request by mail to Innisfree, 501 Madison
Avenue, 20th Floor, New York, New York, 10022. 
This release is not intended for distribution to, or use by, any
person or entity in any jurisdiction or country where such
distribution or use would be contrary to local law or regulation.
This release has been prepared by BASF. No representation or warranty
(express or implied) of any nature is given, nor is any
responsibility or liability of any kind accepted, with respect to the
truthfulness, completeness or accuracy of any information,
projection, statement or omission in this release. This release does
not constitute, nor does it form part of, any offer or invitation to
buy, sell, exchange or otherwise dispose of, or any issuance, or any
solicitation of any offer to sell or issue, exchange or otherwise
dispose of any securities. This release does not constitute
investment, legal, tax, accountancy or other advice or a
recommendation with respect to such securities, nor does it
constitute the solicitation of any vote or approval in any
jurisdiction. There shall not be any offer or sale of securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the applicable
securities laws of any such jurisdiction (or under exemption from
such requirements). 
About BASF
 BASF is the world's leading chemical company: The
Chemical Company. Its portfolio ranges from chemicals, plastics,
performance products and crop protection products to oil and gas. We
combine economic success with environmental protection and social
responsibility. Through science and innovation, we enable our
customers in nearly every industry to meet the current and future
needs of society. Our products and solutions contribute to conserving
resources, ensuring nutrition and improving quality of life. We have
summed up this contribution in our corporate purpose: We create
chemistry for a sustainable future. BASF had sales of EUR 72.1
billion in 2012 and more than 110,000 employees as of the end of the
year. BASF shares are traded on the stock exchanges in Frankfurt
(BAS), London (BFA) and Zurich (AN). Further information on BASF is
available on the Internet at www.basf.com 
Corporate Media Relations:
Jennifer Moore-Braun 
Phone: +49 621 60 99123 
jennifer.moore-braun@basf.com 
North America:
John C. Schmidt 
Phone: +1 973-245-6405
john.schmidt@basf.com