Treatt PLC: Shareholder Rejection of Natara’s Takeover Bid and Recent Corporate Developments
Treatt plc – a London‑listed manufacturer of fragrances and aroma chemicals – has faced a series of corporate events in early November 2025. The company’s shareholders rejected a takeover proposal from Natara, while the board convened a court and general meeting. In addition, a public‑dealing disclosure was filed by Investec Bank plc, and Deutsche Bank Research issued a revised price target for the stock.
1. Shareholder Vote on Natara’s Takeover Bid
On 3 November 2025, the company announced that the shareholder vote on Natara’s takeover bid had been rejected. The bid was withdrawn after the outcome of the vote, which was conducted through a registered vote held on 2 November. The rejection was reported by Investing.com and reflects a lack of sufficient shareholder support for a full acquisition.
2. Court Meeting and General Meeting Results
The same day, Research‑Tree published the results of a court meeting and a subsequent general meeting. The meetings covered several matters, including the status of the Natara bid, the company’s strategic direction, and the appointment of independent directors. Although specific resolutions were not detailed in the summary, the meetings underscored Treatt’s commitment to maintaining independent governance and addressing shareholder concerns.
3. Investec Bank Public‑Dealing Disclosure
A Form 8.5 disclosure was filed by Investec Bank plc on 31 October 2025. Investec, acting as a joint financial adviser, Rule 3 adviser, and corporate broker to Treatt, reported dealings in the company’s securities. The filing was made under Rule 8.5 of the Takeover Code and indicates that Investec has undertaken transactions in Treatt shares in a client‑serving capacity. The disclosure provides transparency on the volume and timing of Investec’s trades, which may impact short‑term liquidity.
4. Deutsche Bank Research Price Target Revision
On 4 November 2025, Deutsche Bank Research announced a revision to its price target for Treatt. The bank’s research team lowered the target from 290 pence to 250 pence and maintained a “hold” rating. The adjustment reflects a reassessment of the company’s valuation in light of recent events, including the failed takeover and the court meeting outcomes. The price target represents the expected trading price at the end of the next financial year, assuming no material changes in the company’s fundamentals.
5. Market Context
Treatt’s stock closed at 232 pence on 2 November 2025. The 52‑week high and low for the year are 527.25 pence and 180 pence, respectively, indicating a substantial price range. The company trades on the London Stock Exchange in GBP (GBX). Its price‑earnings ratio stands at 12.58, placing it within a moderate valuation band for the chemicals sector.
The series of events highlights Treatt plc’s current focus on maintaining shareholder confidence and transparent governance. Investors should monitor forthcoming annual reports and earnings releases for further insights into the company’s strategic initiatives and financial performance.
