Benzinga | Dec 18, 2020 06:06AM EST

DuPont Board Of Directors Approves Separation Of DuPont's Nutrition & Biosciences Business Through An Exchange Offer

WILMINGTON, Del., Dec. 18, 2020 /PRNewswire/ -- DuPont (NYSE:DD) today announced that its Board of Directors has approved the separation of DuPont's Nutrition & Biosciences business through an exchange offer (split-off) whereby DuPont stockholders can elect to tender shares of DuPont common stock in exchange for shares of Nutrition & Biosciences, Inc. ("N&B") common stock. The separation will be followed by the simultaneous combination of N&B with International Flavors & Fragrances ("IFF") in a Reverse Morris Trust transaction in which shares of N&B common stock will be converted into shares of IFF common stock.