05 April 2011 11:34 [Source: ICIS news]
LONDON (ICIS)--Dupont’s tender offer to acquire all of the outstanding shares of food ingredients and enzymes group Danisco for Danish kroner (Dkr) 665 ($127, €89) in cash per share has been approved by the European Commission, the ?xml:namespace>
"We are pleased to have achieved one of the last important milestones in the pending acquisition of Danisco," said DuPont CEO Ellen Kullman.
"Only Chinese approval now remains as a regulatory condition of closing. We remain confident that Danisco shareholders will follow their board's recommendation to accept our premium cash offer and the transaction will be completed later this month,” she added.
Competition approval has already been obtained in the
On 30 March, DuPont extended its tender offer to acquire the shares of Danisco for a second time, by four weeks until 29 April, in order to get additional time to secure approvals from regulators in the EU and
DuPont expects to close the offer for the deal early in the second quarter.
($1 = Dkr5.24, €1 = Dkr7.46)
For more on DuPont visit ICIS company intelligence
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