Enzymotec Enters Definitive Agreement to be Acquired by Frutarom
ENZYMOTEC LTD ORDINARY SHARES (ENZY)
Last enzymotec ltd ordinary shares earnings: 11/15 07:30 am
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Source: GlobeNewswire
MIGDAL HA’EMEQ, Israel, Oct. 29, 2017 (GLOBE NEWSWIRE) -- Enzymotec Ltd. (Nasdaq:ENZY), a developer, manufacturer and marketer of innovative bio-active lipid ingredients and nutritional products, today announced that it has signed a definitive agreement under which Frutarom, an Israeli company (LSE:FRUT) (TASE:FRUT), will acquire Enzymotec for $11.90 per share in cash. The transaction will be completed by way of a merger under the Israeli Companies Law. The transaction has received unanimous approval by Enzymotec’s Board of Directors and implies an equity value of approximately $290 million. The offer of $11.90 per share in cash represents a premium of 39.8% percent over the price of Enzymotec’s ordinary shares on the Nasdaq Stock Market on July 31, 2017, the date on which Frutarom first disclosed an ownership position in Enzymotec. A shareholder meeting to approve the transaction is expected to be held in December 2017. Assuming typical timeframes, Enzymotec currently anticipa
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