Why International Flavors & Fragrances (IFF) Stock Jumped Today
Shares of International Flavors & Fragrances (NYSE: IFF) closed 16% higher Monday. The company announced it will complete a previously announced merger with the Nutrition & Biosciences (N&B) unit of chemical giant DuPont de Nemours (NYSE: DD). Shares of DuPont were down 8% at the same time.
The newly combined company will be a leader in the global markets for ingredients used in food and beverages, health and wellness, and personal care. Including the addition of the DuPont business, 2020 pro forma, or anticipated revenue, for the company to operate under the IFF name would have exceeded $11 billion.
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Source Fool.com
