10 May 2011 15:00 [Source: ICIS news]
LONDON (ICIS)--DuPont will not raise its Danish kroner (DKr) 700 ($135, €94.50)/share bid for ?xml:namespace>
“To be clear, we will not raise our price or further amend or extend our offer,” Kullman said, adding the terms represent DuPont’s “best and final offer”.
Kullman made the announcement as the deadline approaches to ensure “there is no confusion in the market regarding our offer or our intentions”.
She added that “all major Danish institutional investors” support DuPont’s increased offer.
DuPont did not disclose the percentage of Danisco shares tendered to date.
For the deal to close, a minimum of 80% of outstanding Danisco shares must be tendered.
At close of business on 29 April, Danisco shareholders had tendered about 48% of the outstanding shares to DuPont.
($1 = DKr5.2)
($1 = €0.70)
For more on DuPont and other producers, visit ICIS company intelligence
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