International Flavors & Fragrances / DuPont's nutrition and biosciences unit merger

Overview:

• Flavor and fragrance producer International Flavors & Fragrances announced that it will merge with industrial materials maker DuPont’s nutrition & biosciences unit.
• Following the completion of the deal, DuPont shareholders will own 55.4% of the shares of the merged company and International Flavors & Fragrances shareholders will own the remaining 44.6%. DuPont will also get a one-time cash payment of $7.3 billion upon closing.
• Greenhill & Co and Morgan Stanley acted as advisors to International Flavors & Fragrances. Credit Suisse Securities and Evercore advised DuPont.

Chynna Lewis – Researcher