DuPont to Buy Danisco for $5.8 Billion

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.

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