Danisco Now Under DuPont Ownership

Danisco, a leading global biotechnology company, has undergone a significant change in ownership. Danisco is now under the ownership of DuPont, a multinational conglomerate.

DuPont acquired Danisco in 2011, expanding its presence in the biotechnology industry.

DuPont is buying Danisco for $6.3 billion to establish itself as a leader in industrial biotechnology.

DuPont Chair and CEO Ellen Kullman describes Danisco as a premier company with attractive, market-driven science businesses.

The acquisition will help DuPont solve global challenges related to food and energy, particularly with dramatic population growth in the decades to come.

DuPont expects the transaction to be financed with about $3 billion in existing cash and the remainder in debt.

The transaction is expected to close early in the second quarter and be cash and earnings accretive in 2012.

Danisco has two well-positioned global businesses that strongly complement DuPont's current biotechnology capabilities.

The company has specialty food ingredients, including enablers, cultures, and sweeteners, that generate about 65 percent of total sales.

Here's an interesting read: Bell Food Group

Danisco has nearly 7,000 employees globally with operations in 23 countries.

DuPont has the right to waive certain tender offer conditions and accept a lesser number of shares in certain cases.

The acquisition is subject to customary closing conditions, including certain regulatory approvals and the tender of more than 90 percent of the Danisco shares.

DuPont's 2011 earnings per share outlook will be reduced by $0.30 to $0.45 per share on a reported basis due to the acquisition.

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