DuPont Cleared to Complete Tender Offer for Danisco
On April 15, DuPont announced it had been cleared to complete the tender offer by DuPont Denmark Holding ApS to acquire all of the outstanding shares of Danisco at a price of DKK 665 in cash per share following the April 15 regulatory approval by China’s Ministry of Commerce. DuPont Denmark Holding ApS is a wholly-owned and fully-controlled subsidiary of DuPont. All regulatory conditions have now been met and the fully financed tender offer can be completed on April 29, 2011.
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“Danisco shareholders can now follow their board of directors’ unanimous recommendation to accept our premium cash offer,” said DuPont Chair & CEO Ellen Kullman. “It is important to remember that after a highly competitive auction process, Danisco's board concluded this acquisition compares favorably in value to its stand-alone plans for the company.
“Our offer is full, fair and firm and it provides shareholders risk-free, certain and immediate value at an attractive price. We encourage shareholders to act now and tender their shares before the fast approaching deadline,” Ellen said.
The offer period is scheduled to end on April 29, 2011, at 11 p.m. Central European Summer Time (CEST) (5 p.m. Eastern Daylight Time [EDT]). DuPont looks forward to closing the Danisco acquisition promptly following completion of the tender offer.
View the press release.