May 7 (Reuters) - Frutarom Industries Ltd:
* PRESS RELEASE - IFF TO COMBINE WITH FRUTAROM TO CREATE A GLOBAL LEADER IN TASTE, SCENT AND NUTRITION
* DEFINITIVE AGREEMENT UNDER WHICH IFF WILL ACQUIRE FRUTAROM IN A CASH AND STOCK TRANSACTION VALUED AT APPROXIMATELY $7.1 BILLION
* EXPECTED TO REALIZE APPROXIMATELY $145 MILLION IN RUN-RATE COST SYNERGIES BY THIRD FULL YEAR
* FRUTAROM INDUSTRIES- FRUTAROM SHAREHOLDER REPRESENTING 36% OF SHARES OUTSTANDING HAS ENTERED INTO AN AGREEMENT TO VOTE IN FAVOR OF THE TRANSACTION
* FRUTAROM'S SHAREHOLDERS WILL RECEIVE FOR EACH FRUTAROM SHARE $71.19 IN CASH AND 0.249 OF A SHARE OF IFF COMMON STOCK
* IFF EXPECTS TO MAINTAIN ITS QUARTERLY DIVIDEND CONSISTENT WITH PRIOR GUIDANCE
* FRUTAROM INDUSTRIES - FRUTAROM SHAREHOLDER REPRESENTING 36% OF SHARES OUTSTANDING HAS ENTERED INTO AN AGREEMENT TO VOTE IN FAVOR OF TRANSACTION
* TRANSACTION IS EXPECTED TO BE NEUTRAL TO ADJUSTED CASH EARNINGS PER SHARE IN FIRST FULL YEAR FOR IFF
* FRUTAROM INDUSTRIES - ORI YEHUDAI, PRESIDENT AND CEO OF CO, WILL SERVE AS STRATEGIC ADVISOR SUPPORTING ANDREAS FIBIG, CHIEF EXECUTIVE OFFICER OF IFF
* FRUTAROM INDUSTRIES- IFF TO FINANCE CASH PORTION OF DEAL THROUGH COMBINATION OF EXISTING CASH ON HAND, NEW DEBT RAISED AND ABOUT $2.2 BILLION IN NEW EQUITY Source text for Eikon: Further company coverage:
