DuPont Announces U.S. Antitrust Clearance in Connection with Danisco Tender Offer

The company is in the process of seeking similar approvals and clearances from other competition authorities, including the European Union and China.

1/31/2011 --- On Jan. 28, DuPont announced the waiting period under the U.S. Hart-Scott Rodino (HSR) Antitrust Improvements Act of 1976 has expired in connection with the DuPont Denmark Holding ApS tender offer to acquire all of the outstanding shares of Danisco at a price of DKK 665 in cash per share.  DuPont Denmark Holding ApS is a wholly-owned and fully-controlled subsidiary of DuPont.

The expiration of the HSR waiting period satisfies one of the conditions of the tender offer.  The company is in the process of seeking similar approvals and clearances from other competition authorities, including the European Union and China.

On Jan. 9, DuPont entered into a definitive agreement for the acquisition of Danisco, a global enzyme and specialty food ingredients company, for $5.8 billion in cash and assumption of $500 million of Danisco net debt.  Upon closing, this transaction would establish DuPont as a clear leader in industrial biotechnology with science-intensive innovations that address global challenges in food production and reduced fossil fuel consumption.

DuPont expects to complete the acquisition in the early second quarter of 2011.