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.
Read more:
- DSM and Firmenich obtain all competition clearances for merger
- DSM and Firmenich move closer to merger with European Commission competition clearance
- Firmenich opens new China fragrance creation centre inspired by ancient perfumery
- Firmenich, Givaudan, IFF and Symrise under investigation by several antitrust agencies
