DSM and Firmenich exchange offer now ‘unconditional’

By Julia Wray | Published: 19-Apr-2023
Ingredients Finance

DSM-Firmenich began trading on 18 April and the exchange offer will be settled 20 April

Nutrition, health and biosciences company DSM and Swiss fragrances firm Firmenich have announced that the exchange offer for their long-awaited merger is now ‘unconditional’.

All transaction conditions for the May 2022-announced deal have been satisfied or waived, according to the companies.

As a result, the exchange offer will be settled on 20 April and the Firmenich contribution will occur on 8 May 2023.

DSM-Firmenich Ordinary Shares began trading under the symbol ‘DSFIR’ yesterday on Euronext Amsterdam.

Dutch-Swiss DSM and Firmenich began the exchange process in November 2022, with the merger described as a “transformational moment for the history of both businesses” by outgoing Firmenich CEO Gilbert Ghostine.

DSM-Firmenich comprises four businesses: Perfumery & Beauty; Health, Nutrition & Care, which covers the dietary supplements industry; Food & Beverage/Taste & Beyond; and Animal Nutrition & Health.

It is co-headquartered in Kaiseraugst, Switzerland and Maastricht in the Netherlands.

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