By  on December 16, 2019

Fragrance and flavors supplier International Flavors & Fragrances Inc. is to merge with DuPont’s Nutrition and Biosciences business in a deal valuing the combined entity at $45.4 billion.

The agreement, which was announced jointly on Sunday, values the DuPont business at $26.2 billion. DuPont shareholders are to hold a majority stake in the new entity, which will have combined revenues of more than $11 billion per year.

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