The proposed merger of Royal DSM and Firmenich has obtained unconditional competition clearance from the European Commission.
This follows the clearance of China's State Administration for Market Regulation (SAMR) received on 16 February.
Consequently, competition clearance has been obtained in nine out of the ten jurisdictions required to satisfy the offer conditions. The last competition clearance that is pending is from the Competition Commission of India (CCI).
To accommodate the CCI's decision, the acceptance period has been extended until no later than end of 11 April.
The merger of Royal DSM with Swiss fragrance company Firmenich will create DSM-Firmenich and wlll bring together Firmenich's perfumery and taste businesses with DSM's health and nutrition portfolio.
DSM shareholders will own 65.5% of the merged company following the deal while Firmenich shareholders will hold the remaining 34.5%.
The deal implies an enlarged market capitalization of €25.3 billion based on a share price of €145.65.
Completion of the deal and listing on Euronext Amsterdam is slated for the first half of 2023.