Probi shares surge in line with premium after Symrise buyout offer

Symrise AG

20/11/2024 08:48

** Shares in Probi  PROB.ST  soar 42.7% after German
fragrance maker Symrise  SY1G.DE  said on Wednesday it intends
to bid 350 crowns per share to reach full ownership in the
Swedish probiotic solutions company 
    ** Symrise is already Probi's largest shareholder and holds
about 69.7% of the Swedish company's total share capital 
    ** Symrise said in a statement that the total value of the
offer amounts to about 1.21 billion Swedish crowns ($110.49
million), and represents a 42% premium to Probi's closing price
on November 19
    ** Probi shares are on track for their best day ever;
Symrise stock is down 0.4% at 0835 GMT
    


($1 = 10.9517 Swedish crowns)

 (Reporting by Jesus Calero and Marleen Käsebier)
 ((Jesus.calero@thomsonreuters.com))