DSM and Firmenich exchange offer now ‘unconditional’

By Julia Wray 19-Apr-2023

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

The merger is said to be a 'transformational moment' for the companies

The merger is said to be a 'transformational moment' for the companies

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.

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

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