WILMINGTON, Del. (AP) -- Chemicals maker DuPont said Friday it is extending its offer for shares of Danish food additives maker Danisco AS by more than a month to allow more time for regulatory clearances.
DuPont Co. said the $5.8 billion offer will expire April 1. The bid, which values Danisco at 665 Danish kroner ($111.25) per share, was set to expire Tuesday. DuPont said it is extending the offer to give antitrust regulators in the European Union and China more time to approve the deal.
As of Thursday, DuPont said 5 percent of Danisco shares have been tendered in support of its offer. It said that figure is in line with similar tender offers for Danish companies. Danisco has recommended its shareholders support DuPont's bid.