June 10, 2020 / 3:23 PM / 24 days ago

DSM among final bidders for $1.1 billion Erber Group: sources

AMSTERDAM (Reuters) - Dutch company DSM (DSMN.AS) is among the final candidates to buy animal feed additives maker Erber Group, sources close to the matter told Reuters on Wednesday.

One source said the specialty chemicals maker had entered exclusive talks on the deal, which has an estimated value of around 1 billion euros ($1.14 billion), after competitor EQT (EQTAB.ST) withdrew from the process.

Focusing on natural feed additives, feed and food analysis and plant protection, Austria’s Erber is active in 140 countries and generated a turnover of around 330 million euros in 2018.

DSM’s products range from vitamins and food supplements to plastics and fibres.

It has repeatedly said it is interested in takeovers that would strengthen its nutrition business, which last year provided two thirds of its 9 billion euros in sales.

DSM and EQT both declined comment.

Reporting by Bart Meijer and Arno Schuetze

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