DuPont’s Bid for Danisco Successful

It’s official. DuPont is now the owner of Danisco. The successful completion of the purchase occurred on May 15, 2011 with the tender offer for all outstanding shares of common stock for Danisco for DKK 700 cash per share. The tender offer expired on May 13, 2011, at 11 p.m. CEST (5 p.m. EDT) and DuPont estimates that at that time, Danisco shareholders had tendered approximately 92.2 percent of outstanding shares to DuPont Denmark Holding ApS. Many of you may be familiar with the DuPont Danisco Cellulosic Ethanol project (DDCE). The DDCE project currently has a 250,000 gallon demonstration plant near Vonore, Tennessee up and operating with the goal of having a commercial scale plant in operation by 2013, most likely in Iowa.

“We are delighted that the tender has been successful and we can move on to the process of integrating Danisco into DuPont,” said DuPont Chair & CEO Ellen Kullman. “Danisco’s attractive specialty food ingredients businesses and Genencor’s leading industrial enzymes complement DuPont’s own Nutrition & Health and Applied BioSciences offerings. This combination will create an industry leader in industrial biosciences and nutrition and health.”

Ellen continued, “These businesses will work together to drive sustainable growth and market-driven innovation by linking agriculture, nutrition and advanced materials through industrial biosciences. In addition, the R&D combination of DuPont, Danisco and Genencor will enable us to further respond to global megatrends and help provide for the food, energy and protection needs of a growing population.”

Danisco Chairman Jorgen Tandrup added, “We are very pleased that a vast majority of Danisco shareholders have accepted DuPont’s offer, and the two companies may now begin to move forward together. DuPont and Danisco share cultures based in exceptional science and research capabilities. Our combined strengths in biosciences and nutrition and health will deliver innovative new offerings for customers worldwide, while helping to grow these businesses in ways that will benefit employees, shareholders and the communities in which we serve. We look forward to this next exciting chapter of discovery and success for the joined companies.”

One thought on “DuPont’s Bid for Danisco Successful

  1. Pingback: DuPont Expands Into Solar Market - Domestic Fuel