DuPont Revises Offer for Danisco

Posted by Matt Hopkins|10 May 2011

DuPont, on behalf of its wholly owned subsidiary DuPont Denmark Holding ApS, offered to acquire all of the outstanding shares of Danisco at a price of $134.58 in cash per share. The tender offer period will expire on Friday, May 13, 2011, at 11 p.m. CEST (5 p.m. EDT), according to a press release.

“All major Danish institutional investors have expressed support for our revised offer and we remain confident that the tender will be completed successfully on May 13,” said DuPont Chair and CEO Ellen Kullman in a prepared statement. “As the deadline approaches, we want to ensure that there is no confusion in the market regarding our offer or our intentions. These terms represent our best and final offer.

This is DuPont’s final offer, as Danish Financial Supervisory Authority regulations prevent us from making any further changes to these terms, she said.

“In the unlikely event that the current offer does not close, we would then move on to aggressively pursue other strategic opportunities that we’ve been exploring,” Kullman said.