EU panel clears DuPont-Danisco deal

AP News
Posted: Apr 05, 2011 10:28 AM
EU panel clears DuPont-Danisco deal

European regulators have approved DuPont's $5.8 billion offer to acquire Danish food additives maker Danisco AS.

DuPont, formally known as E.I. DuPont de Nemours & Co., said Tuesday that the European Commission's clearance of the deal leaves only Chinese approval as the final regulatory hurdle.

DuPont also said it is confident that Danisco shareholders will follow their board's recommendation to accept DuPont's cash offer and that the deal will be completed later this month."

DuPont announced last week that it was extending its offer for the second time to give Danisco shareholders until April 29 to tender their share.

DuPont's acquisition of Danisco would strengthen its position in food additives and also increases its exposure to markets for alternative fuels such as ethanol, in which Danisco products also are used.