Symrise To Buy Probiotics Maker

Symrise has increased its shareholding in Swedish probiotics maker Probi to more than 30% of shares outstanding. Under Swedish securities law, the German maker of flavors, fragrances, and health ingredients is now required to make a public offer for the 70% of Probi it doesn’t own at a price of $6.46 per share, or $40.6 million. The price corresponds to the highest price Symrise paid for Probi shares in the past six months. Symrise became Probi’s largest shareholder in August 2012. The two signed a joint research agreement in December 2012 initially focused on oral-health applications.