Latest News

Carl Icahn owns 4% stake in International Flavors & Fragrances, sources say

Carl Icahn speaking at Delivering Alpha in New York on Sept. 13, 2016.
David A. Grogan | CNBC

Carl Icahn owns a 4% stake in International Flavors & Fragrances, sources told CNBC’s David Faber on Thursday.

Shares of the New York-based fragrance company popped about 2% following the news.

Loading chart…

Icahn, founder and chairman of Icahn Enterprises, is a longtime activist investor. Most recently, Icahn took a sizeable stake in Southwest Gas as he pushes the Las Vegas-based utility company to drop its acquisition of natural gas company Questar Pipeline.

Separately on Thursday, International Flavors & Fragrances named Frank Clyburn chief executive officer effective Feb. 14, succeeding Andreas Fibig. Clyburn joined IFF from Merck.

In late 2019, International Flavors & Fragrances merged with DuPont’s nutrition and biosciences unit, creating a $45 billion consumer giant.

IFF, which creates flavors and fragrances, works with global brands to develop scents and tastes for products that are household names.

Shares of IFF have fallen about 6% year to date after rallying 38% last year.

You may also like

Leave a reply

Your email address will not be published.

More in Latest News