DuPont Launches Offer to Acquire Danisco

Danisco's board unanimously recommending its shareholders accept DuPont's offer.

DuPont on Jan. 21 started its public tender offer to acquire Danish food ingredient and enzyme company Danisco, a deal worth $6.3 billion (4.9 billion euros), both companies said.

The friendly takeover was announced last week, with Danisco's board unanimously recommending its shareholders accept DuPont's offer of 665 kroner (US$121) a share -- a 25% jump on the last closing price -- the company said last week.

"The offer is conditioned upon, among other things, shareholders holding more than 90% of Danisco's shares accepting the offer" and regulatory approvals, DuPont said.

It added its offer would end on February 22, 2011 at 2200 GMT.

DuPont will withdraw Danisco from the Copenhagen stock exchange after the purchase goes through.

Copyright Agence France-Presse, 2011

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