US chemical group DuPont has successfully completed its tender offer for Danisco, as 92.2 percent of outstanding shares in the Danish food ingredients firm were tendered by Friday’s deadline, DuPont said on Monday.
The European Commission today approved DuPont’s €4.5bn offer for Danish probiotics, enzymes and ingredients giant Danisco but the deal remains in doubt as to date only 6% of Danisco shareholders have accepted the offer.
DuPont would look to move its food ingredients R&D to Denmark following its acquisition of Danisco, and adopt the latter’s Sales and Application development organisation to get ingredients to market, offer documents reveal.
Danisco is to be snapped up by DuPont for $6.3bn, in a deal Dupont says could create a global leader in industrial biotech – and help drive science-based solutions to the world’s food and fuel challenges.
It has been a bumpy ride over the last few months for mergers and acquisitions. The global credit crisis has cut into financing opportunities, while some high-profile deals have been stalled or even terminated.
Rumour, according to the Romans, is a feathered beast with a myriad eyes and tongues. Last week she went bristling through the Danish business pages, spreading the news that Danisco could be bought by a private equity firm.
Danisco has announced that it will sell its sugar division to
Nordzucker for DKK5600m, around €751m, bringing to an end months of
speculation as to whether it would agree to a sale or opt to spin
off sugar into a separate business.
Danisco has said it is close to concluding negotiations with
potential buyers of its sugar business, but is still working
towards spinning it off into a separate business by the end of 2008
in case a suitable deal cannot be struck.
European ingredients firm Danisco is introducing a new range of
lactitol-based sweeteners for bakery products in the Brazilian
market - a strategic decision that indicates an on-going commitment
to milk-derived lactitol.
Danisco's board yesterday rejected a proposal to cleave the company
into two businesses, one for sugar and the other for ingredients,
because of on-going EU sugar reform. But the plan remains on the
table for the longer term.
The trend towards reducing the fat content in food products is
contributing to growth in the emulsifiers market, as R&D
produces new ingredients that can help healthier products taste as
good as the original full fat versions.
Danisco is developing a range of emulsifiers aimed at reducing the
need to use commodity products such as wheat, gluten, and vegetable
oils in food formulations, as manufacturers feel the pinch of
Danisco yesterday announced that the much-anticipated sale of its
flavours division to Firmenich has been completed, but the firm
said it has entered into a partnership with the buyer, which allows
it to continue supplying certain...
Danisco has cut a deal to sell its flavours division to Firmenich
that will let it focus resources on its bioingredients, texturants
and sweeteners competencies - while still keeping some interest in
flavours through a partnership...