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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts