Novozymes, Chr. Hansen Shares Advance as Focus Shifts to Merger

Novozymes shares rise as much as 4.1%, extending Thursday’s results-driven advance, as the focus shifts to the plans of the Danish industrial-enzymes maker to buy Chr. Hansen. Berenberg analysts are “optimistic” the deal will go through, predicting completion in the first quarter of next year.

• Chr. Hansen shares gain as much as 5.3% in Copenhagen
• The tone of Novozymes management when discussing the remaining regulatory approvals needed for the transaction was “rather upbeat,” analyst Sebastian Bray (buy) writes in a note
• Berenberg notes that Novo Holdings, which will have control over the new entity, is a “reliable steward” of long-term ...