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LONDON - German ingredients company Döhler Group SE has increased its stake in UK-based natural extracts and flavors company Treatt plc to 10.02%, according to a statement released Tuesday.
Döhler acquired or agreed to acquire 4,182,066 additional shares, representing approximately 7.05% of Treatt’s issued share capital. The company had previously held a 2.97% stake.
In the regulatory announcement, Döhler described Treatt as a "high-quality company" with a "strong position in the natural extracts and flavours market" and expressed support for Treatt’s current strategy.
The German firm stated it intends to hold the shares for investment purposes and confirmed it is not considering a takeover offer for Treatt. This declaration triggers Rule 2.8 of the UK City Code on Takeovers and Mergers, which restricts Döhler from making an offer for Treatt for six months without specific exceptions.
The announcement noted several circumstances under which Döhler could be released from these restrictions, including if Treatt’s board consents, if another company announces a firm offer for Treatt, or if the UK Panel on Takeovers and Mergers determines there has been a material change in circumstances.
Treatt, listed on the London Stock Exchange, specializes in the manufacture and supply of natural extracts and ingredients for the flavor, fragrance, and consumer goods industries.
The statement was released under Rule 2.8 of the UK City Code on Takeovers and Mergers, which governs public statements of intent not to make an offer.
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