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DSM Shares Jump 8% After Agreeing €41B Deal to Takeover Firmenich

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Dutch ingredients and bioscience group DSM stock soared nearly 8% after announcing a €41B takeover arrangement of Swiss Fragnance and flavor specialist Firmenich.

Source: FT

DSM up +8.38%, BAS down -0.54%

The arrangement will create a global powerhouse in the specialist products needed for the growing market in alternative foods and nutrition.

A proposed one-to-one share offer brings the combined group listed in Amsterdam an extra €3.5 billion in cash paid for a percentage of shares held by Switzerland’s Firmenich family.

The deal will also finalize DSM’s shift from a 20th-century heavy industrial giant, once referred to as Dutch State Mines, to a specialist, high-tech consumer chemicals producer.

DSM also announced plans to dispose of its legacy industrial unit in engineering materials to Advent International and Lanxees for an enterprise value of €.385 billion.

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