Shareholders approve Novozymes-Chr. Hansen merger

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In Denmark, shareholders of both Novozymes and Chr. Hansen have approved the previously announced merger of the biosolutions leaders in a deal that “unleash[es] the full potential of biological solutions and [will] generate significant value for all stakeholders and society at large.”

Called a “perfect match” by Novo Holdings A/S, which is the largest shareholder in both companies, the deal would create a bioscience giant with over €3.5 billion ($3.7 billion) in annual sales. 

Novozymes is the world’s largest provider of enzyme and microbial technologies, and Chr. Hansen boasts over 145 years’ experience developing natural ingredient solutions for the food, nutritional, pharmaceutical, and agricultural industries.  Half of the combined company’s portfolio will focus on enabling healthier lives and producing better foods, and the other half will address reducing chemical use and targeting climate neutral practices.

The completion of the deal remains subject to the satisfaction of a number of conditions, including customary merger control and other regulatory approvals. The closing is expected to be completed in the fourth quarter of 2023 or the first quarter of 2024.