NEW YORK (TheStreet) -- Shares of SYMRISE AG (SYIEY) are down -2.67% to $12.02. The German scents and flavors group will purchase France's Diana Group for $1.8 billion, including debt, to narrow the gap on top rival Givaudan SA (GVDNY), and expand in natural ingredients and pet food, Reuters reports.
Symrise CEO Heinz-Juergen Bertram said the firm would likely finance the deal through a 10% capital increase, and a mix of debt and equity.
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