DuPont completes tender offer for Denmark’s Danisco

16 May 2011 12:10  [Source: ICIS news]

DaniscoLONDON (ICIS)--DuPont has completed its tender offer for all outstanding shares of common stock in Denmark’s Danisco at Danish kroner (DKr) 700/share, the US-based company said on Monday.

The $6.3bn (€4.5bn) acquisition adds specialty food ingredients and industrial enzymes to the DuPont portfolio to complement its nutrition and health and applied biosciences businesses.

More than 90% of outstanding shares were tendered by the offer deadline of 23:00 central European summer time on 13 May, DuPont said.

"These businesses will work together to drive sustainable growth and market-driven innovation by linking agriculture, nutrition and advanced materials through industrial biosciences," said DuPont CEO Ellen Kuhlman.

"In addition, the R&D combination of DuPont, Danisco and Genencor will enable us to further respond to global megatrends and help provide for the food, energy and protection needs of a growing population."

DuPont has an existing joint venture to develop cellulosic ethanol with Genencor, Danisco’s industrial biotechnology company.

($1 = €0.71, €1 = DKr7.50)

For more on DuPont visit ICIS company intelligence

By: Nigel Davis
+44 20 8652 3214

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