DuPont extends Danisco tender offer period

DuPont extends Danisco tender offer period

3:22 PM, 31st March 2011
DuPont extends Danisco tender offer period
Ellen Kullman, CEO, DuPont.

 

DELAWARE, US: DuPont announced that its wholly-owned subsidiary DuPont Denmark Holding ApS is extending the tender offer period relating to its acquisition of Danisco A/S shares. The extension provides additional time to secure the necessary approvals from the competition authorities in the European Union (EU) and China.

 

As required by Danish regulations, the new offer period is extended four weeks and will end on April 29, 2011, at 11 pm, unless further extended as described in the offer document. The offer is proceeding toward an early second quarter closing.

 

“We believe Danisco shareholders are recognizing that our offer is full, fair and firm and, moreover, it is the best offer available and provides certainty to shareholders. We look forward to completing the tender process promptly once regulatory approvals are received,” said Ellen Kullman, CEO, DuPont.

 

Competition approval has already been obtained in the US and competition approvals in the EU and in China continue to make progress.

 

DuPont on January 9 agreed to acquire Danisco for DKK 665 cash per share and the tender offer commenced on January 21.  On February 9, Danisco announced that all members of the executive board and the board of directors had tendered their shares.  On Februry 18, DuPont announced that the tender offer period would be extended to April 1 to provide additional time for regulatory approvals.

(C) WOC News

 

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