IFF shares are trading higher after the company announced Clariant agreed to purchase its Cosmetic Ingredients business unit for $810 million.
Portfolio Pulse from Benzinga Newsdesk
International Flavors & Fragrances Inc. (IFF) has agreed to sell its Cosmetic Ingredients business unit to Clariant for $810 million. This has led to an increase in IFF's share price.
October 31, 2023 | 6:15 pm
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IFF's decision to sell its Cosmetic Ingredients business to Clariant for $810 million has resulted in a rise in its share price.
The sale of a business unit often leads to a rise in the share price of the selling company, as it is seen as a positive move to streamline operations and focus on core businesses. In this case, the sale of the Cosmetic Ingredients business by IFF to Clariant for $810 million has led to an increase in IFF's share price.
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