Royal DSM says it stands to make EUR129m if it accepts DuPont’s bid and sells its 4.95% stake in Danish supplier Danisco. DSM has been building its stake in Danisco since 2007 by buying stock on the Copenhagen stock exchange. DSM will make a 90% premium over the Danisco share value for 12 months ago with the new bid, given the EUR4.9bn price offered.
DSM says it was not considering a competitive bid. Of his company’s decision to sell, J&oslash,rgen Tandrup, chairman of the board of directors at Danisco, says: “We believe this offer represents attractive value for Danisco shareholders at a time when the share price is at an all-time high, and that it is in the best interest of the business and our employees.
“There will be substantial opportunities as part of a larger group and DuPont will bring significant advantages to Danisco’s strategy and further development. DuPont and Danisco make a powerful combination and will benefit from each others’ complementary strengths and skills.”