11.02.2011 • News

DuPont CEO "confident" in Value of Danisco Offer

DuPont is confident that shareholders of Denmark's Danisco will accept the U.S. chemical company's roughly $5.8 billion bid for the maker of food ingredients and enzymes.

"We continue to see movement and so I'm confident," said Ellen Kullman, DuPont's chief executive, on Thursday.

"You normally don't get resolution until the last 48 hours. So they obviously are doing what they normally do with tenders, which is see if they can get more," Kullman told reporters after addressing the Boston College CEOs' Club. "This was a competitive bidding process; we were the winner; we think it's a very fair and fully valued offer; and I think you'll see more movement as we get closer to the tender."

DuPont in January offered to acquire Danisco for 665 Danish crowns per share, a bid that was worth about $5.8 billion at then-current exchange rates. But Danisco shareholders have criticized the offer, saying it undervalues the company.

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