Update on the combination of Novozymes and Chr. Hansen: U.S. antitrust regulation waiting period has expired, supporting the path to completion
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MARCH 28, 2023
On December 12, 2022, Novozymes A/S ("Novozymes") and Chr. Hansen Holding A/S ("Chr. Hansen") announced that Novozymes and Chr. Hansen propose to combine and create a leading global biosolutions partner by way of a statutory merger of the two companies. Reference is made to Chr. Hansen’s company announcement no. 13 of December 12, 2022.
Today, the statutory pre-closing suspensory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"), with respect to the merger agreement and merger plan between Novozymes and Chr. Hansen has expired. The expiration of the HSR waiting period was a condition to completion of the combination, and today’s outcome of the U.S. antitrust regulation under the HSR Act supports the path to completion.
The completion of the combination remains subject to the satisfaction of an additional number of conditions set out in the merger plan, including approval by the Novozymes and Chr. Hansen shareholders at the extraordinary general meetings scheduled for March 30, 2023, and certain additional regulatory approvals.
Completion of the combination is expected to occur in the fourth quarter of 2023 or the first quarter of 2024. Further details on the expected timing for the completion of the combination will be published as relevant.
For additional information, visit www.power-with-biology.com or https://www.chr-hansen.com/en/investors/proposed-merger/.
About Chr. Hansen
Chr. Hansen is a global, differentiated bioscience company that develops natural ingredient solutions for the food, nutritional, pharmaceutical, and agricultural industries. At Chr. Hansen, we are well positioned to drive positive change through microbial solutions. We have worked for over 145 years to enable sustainable agriculture, better food and healthier living for more people around the world. Our microbial and fermentation technology platforms, including our broad and relevant collection of around 40,000 microbial strains, have game-changing potential. Matching customer needs and global trends, we continue to unlock the power of good bacteria to respond to global challenges such as food waste, global health and the overuse of antibiotics and pesticides. As the world’s most sustainable food ingredients company, we touch the lives of more than 1 billion people every day. Driven by our legacy of innovation and curiosity to pioneer science, our purpose – To grow a better world. Naturally. – is at the heart of everything we do.
Novozymes is the world leader in biological solutions. Together with customers, partners, and the global community, we improve industrial performance while preserving the planet's resources and helping build better lives. As the world's largest provider of enzyme and microbial technologies, our bioinnovation enables higher agricultural yields, low-temperature washing, energy-efficient production, renewable fuel, and many other benefits that we rely on today and in the future. We call it Rethink Tomorrow.
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