DuPont Buys Danish Danisco for $6.6 Billion

Tender offer had been repeatedly delayed until DuPont upped its bid.

U.S. chemical giant DuPont announced Monday the $6.6 billion (4.9 billion euros) takeover of Danish food ingredient and enzyme giant Danisco.

The tender offer, which had initially been set for completion in February, had been repeatedly delayed until DuPont at the end of April upped its bid to 700 kroner (94 euros, $132) a share, from its original bid of 665 kroner, stressing it would not go higher.

It had remained unclear until the last minute whether the acquisition would go through, as some Danisco shareholders remained tight-lipped about whether they would accept the deal.

DuPont said it had acquired 92.2% of Danisco's capital, passing the 90% limit it needed to withdraw Danisco from the Copenhagen stock exchange.

"We are delighted that the tender has been successful and we can move on to the process of integrating Danisco into DuPont," DuPont chief executive Ellen Kullman said in a statement issued by its Danish branch.

"This combination will create an industry leader in industrial biosciences and nutrition and health," she added.

The Danish company -- a specialist in food ingredients, enzymes and bio-products which sold off its large sugar business in 2008 -- was with the DuPont deal valued at 34.3 billion kroner.

Danisco counts some 6,800 employees and last year posted annual sales of 13.7 billion kroner.

DuPont has already received the necessary green lights for the takeover from a range of competition authorities.

Copyright Agence France-Presse, 2011

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