02 May 2011 11:12 [Source: ICIS news]
LONDON (ICIS)--Danisco’s board has unanimously backed a raised bid from US chemicals major DuPont, the Danish food ingredients and enzyme firm said on Monday.
DuPont increased its bid for Danisco on Friday to Danish kroner (Dkr) 700 ($139)/share, from Dkr665/share, and extended the tender offer to 13 May - its best and final offer.
“The Board has unanimously decided to recommend the shareholders to accept the offer,” Danisco said in a statement on the Nordic Stock Exchange.
DuPont also said it reduced the minimum number of shares required to be tendered from 90% to 80% in order to close the transaction.
Shares in Danisco were up by 4.34% to Dkr697 at 09:58GMT on the NASDAQ’s OMX Nordic Stock Exchange.
($1 = Dkr5.03)
For more on Danisco, DuPont visit ICIS company intelligence
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