Deals
IFF Vies With Kerry in Deal for DuPont Nutrition Business
- IFF emerges as strong contender in race for $25 billion asset
- DuPont shareholders will retain a stake in combined business
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International Flavors & Fragrances Inc. has emerged as a strong contender to purchase DuPont Inc.’s nutrition division, challenging Ireland’s Kerry Group for the $25 billion asset, according to people with knowledge of the matter.
IFF and Kerry are both negotiating with DuPont and the winner could reach a deal by year-end, the people said, asking not to be identified as the discussions are private. The transaction will create a new company comprised of the bidder’s assets and DuPont’s nutrition business that will be spun off to existing investors, the people said.