DuPont Confirms Best and Final DKK 700 Per Share Offer for Danisco
“All major Danish institutional investors have expressed support for our revised offer and we remain confident that the tender will be completed successfully on May 13,”
5/12/2011 --- DuPont, on behalf of its wholly owned subsidiary DuPont Denmark Holding ApS, confirmed that its offer to acquire all of the outstanding shares of Danisco at a price of DKK 700 in cash per share is final. The tender offer period will expire on Friday, May 13, 2011, at 11 p.m. CEST (5 p.m. EDT).
“All major Danish institutional investors have expressed support for our revised offer and we remain confident that the tender will be completed successfully on May 13,” said DuPont Chair and CEO Ellen Kullman. “As the deadline approaches, we want to ensure that there is no confusion in the market regarding our offer or our intentions. These terms represent our best and final offer.
“To be clear, we will not raise our price or further amend or extend our offer. In fact, the Danish Financial Supervisory Authority has made it clear that Danish regulations prevent us from making any further changes to these terms,” Kullman said. “In the unlikely event that the current offer does not close, we would then move on to aggressively pursue other strategic opportunities that we’ve been exploring.”
DuPont reminds Danisco shareholders that tendering shares is the only way to receive the full value and certainty of the DKK 700 cash tender offer.
