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Investing.com - Deutsche Bank raised its price target on Treatt Plc (LON:TET) to GBP2.60 from GBP2.00 while maintaining a Hold rating following a cash offer for the company.
The price target adjustment comes after Treatt’s Board recommended a cash offer from Natara and its majority shareholder Exponent that values the company at GBP2.60 per share, representing a total market capitalization of £156.6 million.
The offer represents a 16.1% premium to Treatt’s closing price on Friday, according to Deutsche Bank’s analysis.
The proposed acquisition aims to create a leading global ingredients platform by combining complementary Flavour & Fragrance businesses, which could enable accelerated innovation and operational efficiencies.
The transaction will be implemented through a scheme of arrangement, requires shareholder approval, and is expected to complete during calendar year 2025.
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