Continuing regulatory reviews prompt DuPont-Danisco offer extension
Regulatory reviews have prompted DuPont to extend its offer on a takeover bid for Danisco A/S.
Ongoing regulatory reviews have prompted US chemicals group DuPont to extend the offer period of its takeover bid for Danisco A/S.
The company revealed that this move would grant the additional time needed to gain approvals from competition bodies in China and the European Union.
Commenting on the bid, DuPont chair and chief executive officer Ellen Kullman claimed that Danisco shareholders are acknowledging the "full, fair and firm" offer made by her company.
"We continue to make good progress on the necessary regulatory approvals and we look forward to completing the tender process promptly once regulatory approvals are received," she said.
The company went on to reveal that regulatory approval has already been granted in the US and reported progress being made by competition authorities in China and the EU.
Founded in 1802, DuPont currently operates in around 90 countries, offering a vast array of products and services for a diverse range of markets, including agriculture, nutrition, communications and apparel.