The deal, unanimously approved by the boards of both companies, values the combined enterprise at $45.4 billion. The companies’ statement said the new entity would be a global leader in the food and beverage, home and personal care, and health and wellness markets. It would have an estimated 2019 revenue of more than $11 billion and pretax earnings of $2.6 billion, the statement said. ADAt closing, the new company’s board will be made up of the seven current IFF directors and six appointed by DuPont. DuPont Executive Chairman Ed Breen will serve as lead independent director starting June 1, 2021.

Source: Washington Post December 15, 2019 22:52 UTC