DSM not considering competitive bid for Denmark's Danisco

12 January 2011 08:33  [Source: ICIS news]

SINGAPORE (ICIS)--DSM holds a 4.95% stake in Denmark’s Danisco but is not considering a competitive bid for the company, the Dutch life sciences and material sciences firm said in a statement on Wednesday.

US chemical firm DuPont said on 10 January that it aims to acquire Danisco in an all-cash offer for a transaction valued at around $6.3bn (€4.85bn) including assumed debt.

DSM owns 2.36m shares of Danisco, the company said in a statement.

“DSM has taken notice of the recommended bid that has been announced by DuPont at a price of Danish kroner (DKr) 665 ($116) per share,” the firm said.

“If DSM sells its shares for DKr665, it will have a non-recurring book profit of approximately €129m ($168m) before tax,” it added, without elaborating further.

($1 = €0.77, $1 = DKr5.72)

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By: Nurluqman Suratman



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