Monday, December 16, 2019

BIG Business: "International Flavors & Fragrances said it will merge with DuPont’s nutrition & biosciences unit"

From CNBC:
  • International Flavors & Fragrances said it will merge with DuPont’s nutrition & biosciences unit in a deal that will create a new consumer giant valued at more than $45 billion.
  • DuPont shareholders will own 55.4% of the shares of the new company and existing IFF shareholders will own 44.6%, IFF said in a statement.
  • The deal has been unanimously approved by both boards, New York-based IFF said
International Flavors & Fragrances on Sunday said it will merge with DuPont’s nutrition & biosciences unit in a deal that will create a new consumer giant valued at more than $45 billion.
Under terms of the agreement, DuPont shareholders will own 55.4% of the shares of the new company and existing IFF shareholders will own 44.6%, IFF said in a statement.
The deal has been unanimously approved by both boards, New York-based IFF said.
Industrial materials maker DuPont will also receive a one-time cash payment of $7.3 billion upon closing of the deal, IFF added....MORE