DuPont: to merge nutrition unit with IFF, shares rise
(CercleFinance.com) - Chemical giant DuPont on Monday said that it will merge its nutrition and biosciences unit with IFF in a 45 billion dollar deal that boosted its shares by almost 3% in early trading on Wall Street.
DuPont and International Flavors & Fragrances have entered into a definitive agreement valuing DuPont's unit at 26.2 billion dollars.
The deal will give the company leading positions across key categories such as enzymes, cultures, soy proteins and probiotics, the companies said.
DuPont shareholders will own 55.4% of of the new company's shares and existing IFF shareholders will own the other 44.6%.
After rising by 2.8% in early morning trading, the group's shares slipped back and were trading up 0.7% higher at 65.1 dollars on the New York Stock Exchange.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
DuPont and International Flavors & Fragrances have entered into a definitive agreement valuing DuPont's unit at 26.2 billion dollars.
The deal will give the company leading positions across key categories such as enzymes, cultures, soy proteins and probiotics, the companies said.
DuPont shareholders will own 55.4% of of the new company's shares and existing IFF shareholders will own the other 44.6%.
After rising by 2.8% in early morning trading, the group's shares slipped back and were trading up 0.7% higher at 65.1 dollars on the New York Stock Exchange.
Copyright (c) 2019 CercleFinance.com. All rights reserved.