DuPont to Buy Danisco for $5.8 Billion
by
Jan 10th 2011 6:35AM
Updated Jan 10th 2011 7:57AM
Chemical maker DuPont Co. says it is buying a Danish food ingredient maker for $5.8 billion.
Dupont says in a news release late Sunday that its deal for longtime partner Danisco also includes assuming $500 million of the company's net debt, giving the deal a total value of $6.3 billion.
Danisco makes enzyme and specialty food ingredients.
DuPont CEO Ellen Kullman says the deal will establish DuPont as a leader in industrial biotechnology and help it solve food and energy challenges related to population growth.
Dupont says it will pay for the deal with about $3 billion in cash, and the rest in debt.
The deal should close early in the second quarter and be cash and earnings accretive next year.
The Copenhagen, Denmark-based company has nearly 7,000 employees.
Dupont says in a news release late Sunday that its deal for longtime partner Danisco also includes assuming $500 million of the company's net debt, giving the deal a total value of $6.3 billion.
Danisco makes enzyme and specialty food ingredients.
DuPont CEO Ellen Kullman says the deal will establish DuPont as a leader in industrial biotechnology and help it solve food and energy challenges related to population growth.
Dupont says it will pay for the deal with about $3 billion in cash, and the rest in debt.
The deal should close early in the second quarter and be cash and earnings accretive next year.
The Copenhagen, Denmark-based company has nearly 7,000 employees.
