Kerry Group shares fall on missed mega deal

Shares in Kerry Group fell by close to 3% after it lost out in the race to buy the nutrition division of American conglomerate DuPont, in what would have been a potentially transformative deal for the Tralee-based food business.

US group International Flavors & Fragrances (IFF) said it has reached agreement to buy DuPont’s nutritions business for $26.2bn (€23.5bn) as it continues to expand in the fast-growing food ingredients interests.