IFF recommends company shareholders do not tender their shares in response to an unsolicited mini-tender offer from TRC Capital Investment Corp. to purchase up to 1.5 million shares of IFF’s common stock.
Sluggish consumer demand ate into IFF volume numbers in the third quarter ended Nov. 30. Volume was challenged in two IFF segments, Nourish and Health & Biosciences, said Glenn Robert Richter, chief financial officer, in a Nov. 8 earnings call.