DuPont chairman says deal with IFF gives new company 'double the R&D' of competitors

. Breen said two other companies were also bidding for the DuPont division. The deal is expected to take 12 to 13 months to close and will create a $45 billion consumer giant.

Meat alternatives are one area that could benefit from the strength of the new company's research and development division. DuPont produces the plant-based proteins used in meatless alternatives, while IFF creates the flavors and colors. Shares of IFF, which has a market value of $13.4 billion, are trading down nearly 7% Monday morning. DuPont's stock, which has a market value of $48.3 billion, were up less than 1%.

Under terms of the agreement, DuPont shareholders will own 55.4% of the shares of the new company and existing IFF shareholders will own 44.6%, IFF said in a statement. Industrial materials maker DuPont will also receive a one-time cash payment of $7.3 billion upon closing of the deal, IFF added.

when do these CEO's lose their jobs for stocks which under perform greatly? $IFF stock been awful in a huge stock market year. Accountability is needed.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

The Return on Investment of Workplace Mentoring InitiativesNew insights confirm that companies who invest in formal workplace mentoring programs experience substantial returns.
출처: Women 2.0 - 🏆 149. / 63 더 많은 것을 읽으십시오 »

Fremantle Sets Up New Italian Development and Production Company, The Apartment (EXCLUSIVE)Fremantle is expanding its footprint in Italy by setting up a new development and production company focused on high-end scripted content and headed by Lorenzo Mieli, the producer of such shows as …
출처: Variety - 🏆 108. / 63 더 많은 것을 읽으십시오 »