The division, which makes food additives and ingredients, could be worth at least $20B as a stand-alone entity, based on the trading multiples of rivals, according to the report.
Logical partners for such a deal are said to include International Flavors & Fragrances (NYSE:
IFF), Kerry Group (OTCPK:KRYAY), Givaudan (OTCPK:GVDBF) and Royal DSM.