Symrise has made a bold move by offering 350 kronor per share for Probi, representing a premium of 42% over the previous day’s closing price of 246 kronor. This strategic acquisition is set to reshape the landscape of the market, with Symrise already being the largest shareholder in Probi, holding 69.7% of the capital and votes.
The deal has garnered significant interest from other major shareholders, such as Fjärde AP-fonden and Moneta Asset Management, who collectively own 17.7% of the capital and votes. They have expressed their commitment to accepting the offer, contingent on certain conditions being met. With this level of support from key stakeholders, Symrise is poised to gain control of Probi and solidify its position in the industry.
The total valuation of Probi under this acquisition stands at 4.0 billion kronor, with Symrise looking to acquire the remaining shares for 1.2 billion kronor. This move not only demonstrates Symrise’s confidence in the growth potential of Probi but also signals its strategic intent to expand its market presence and offerings.
The acceptance period for the offer is expected to commence around December 18, 2024, and conclude by January 15, 2025. This timeline provides shareholders with ample opportunity to evaluate the offer and make informed decisions regarding their investment in Probi.
Overall, Symrise’s bid for Probi signifies a significant development in the industry, with the potential to create synergies, drive innovation, and unlock value for shareholders. As the market eagerly awaits the outcome of this acquisition, all eyes are on Symrise and Probi to see how this strategic partnership will unfold in the coming months. Stay tuned for more updates on this transformative deal that is set to reshape the future of the market.