NEW YORK — The battle to win the rights to the nutrition division of DuPont is heating up, according to Bloomberg.
In a story published on Dec. 8 on the news agency’s web site, Bloomberg cited sources claiming that New York-based International Flavors & Fragrances, Inc. has emerged as a strong contender — along with Dublin, Ireland-based Kerry Group — to acquire DuPont’s nutrition division.
Bloomberg first reported that DuPont was considering a sale of the nutrition business back in early August. At that time, the business was said to be valued at $25 billion. Over the next several months Bloomberg, citing people with knowledge of the matter, said a number of companies were interested in the business, including Royal DSM n.v., Givaudan S.A. and Kerry.
In its Dec. 8 story, Bloomberg said I.F.F. and Kerry are both negotiating with DuPont and a decision could be reached by the end of the year. The transaction would create a new company comprised of the bidder’s assets and DuPont’s nutrition business that would be spun off to existing investors, the sources told Bloomberg.
Representatives for DuPont, I.F.F. and Kerry have not commented on any potential transaction.