DuPont makes deal to purchase Danisco for $6.5 billion

Companies have been negotiating deal since January

U.S.-based chemical producer DuPont has made a deal to purchase Denmark-based animal feed ingredient producer Danisco for DKK 34 billion (US$6.5 billion), or DKK 700 (US$133.19) per share, according to reports.

While the two companies currently collaborate on the development of bioethanol plants, the purchase will fully integrate Danisco’s operations into DuPont’s. “These businesses will work together to drive sustainable growth and market-driven innovation by linking agriculture, nutrition and advanced materials through industrial biosciences,” said Ellen Kullman, DuPont’s chair and CEO.

The final offer was made at the end of April, with 92.2% of shareholders agreeing to the deal — 90% assent was required for DuPont to delist Danisco from the Copenhagen stock exchange. The original offer, made in January, was for DKK 665 (US$126.53) per share, which at the time was more than Danisco’s shares were priced at. The offer, however, caused stock prices to rise.