Shares in Kerry Group closed at a record €116.10 on Monday amidst speculation that Kerry Group is looking at a mega merger with the nutrition business of US multinational DuPont. The deal would be potentially transformative for Kerry Group and would propel the food ingredients firm to a leading position globally.

The DuPont division, which had sales of $6.8bn (€6.2bn) last year, would double the size of the Kerry Group, which had sales of €6.6bn in 2018.