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