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
