Dupont Starts Squeeze-Out of Minor Danisco Owners

U.S. chemicals group DuPont said on Thursday it had begun a squeeze-out of minority shareholders in Danish company Danisco after owners of more than 90% of the stock accepted its takeover offer.

DuPont announced on May 16 that it would carry out the $6.4 billion deal, initially announced in January, after shareholders with 92.2% of Danisco's shares accepted its 700 Danish crowns per share offer by the deadline.

DuPont said in a statement that it would carry out a compulsory redemption of the remaining shares in Danisco from May 19 to June 16 and the delisting of Danisco from the Copenhagen bourse would become effective on June 17.