Symrise Set Up Barriers to Hostile Bids, Boersen-Zeitung Reports
Symrise AG, the German maker of lemon scents and vanilla flavoring, adopted barriers to hostile takeover bids when it refinanced its debt, Boersen-Zeitung said, citing an interview with Chief Financial Officer Bernd Hirsch.
The refinancing package concluded this month contains change-of-control clauses that oblige any new majority shareholder to pay off the Holzminden, Germany-based company’s debt, the newspaper reported.
Hirsch declined to speculate on possible buyers for the company and said Symrise was no longer cheap to buy based on the its stock price, Boersen-Zeitung reported.
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