DuPont increases Danisco tender offer for last time

DuPont has announced that it has increased the price of its tender offer to acquire all of the outstanding shares of Danisco to DKK 700 in cash per share.

The tender offer period has been extended for the last time to May 13, 2011, at 11 p.m. CEST (5 p.m. EDT).

DuPont also announced that it has exercised its right to reduce the minimum number of shares required to be tendered to 80 percent from 90 percent in order to close the tender.

“These terms represent our best and final offer,” said DuPont Chair and CEO Ellen Kullman. “This increase in the offer price and reduced minimum tender requirement will allow shareholders to tender with confidence, given the premium value and certainty of this offer. We believe the positive outlook and strong recent performances of both companies support these final terms and we remain confident this will bring the transaction to a successful and swift conclusion.”