IFF Falls, DuPont Rises Premarket After Nutrition Deal
December 16 2019 - 9:35AM
Dow Jones News
By Colin Kellaher
Shares of International Flavors & Fragrances Inc. (IFF) fell
nearly 6% in premarket trading Monday after the company agreed to
combine with DuPont de Nemours Inc.'s (DD) nutrition business.
DuPont shares moved higher.
DuPont's shareholders will own 55.4% of the combined company as
a result of the deal, which values the nutrition division at around
$26 billion, while IFF's shareholders will own 44.6%.
DuPont also will get a $7.3 billion cash payment.
IFF shares, which closed Friday at $133.98, were down 5.6%, to
$126.47, in premarket trading. Shares of DuPont gained 3.6%
premarket, to $67.13.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 16, 2019 09:20 ET (14:20 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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