Dupont to Buy Danisco for $5.8 Billion to Add Enzymes

[Mark Maker]

By Jack Kaskey - Jan 9, 2011 8:40 PM MT
DuPont Co., the third-biggest U.S. chemical maker, said it agreed to acquire Denmark’s Danisco A/S for $5.8 billion to add production of enzymes used in food and biofuels.

DuPont will pay 665 kroner ($115) a share, the Wilmington, Delaware-based company said today in a statement. That’s 25 percent more than Danisco’s 530-krone Jan. 7 closing share price. DuPont will also assume $500 million of Danisco’s debt.

Chief Executive Officer Ellen Kullman is expanding into production of food and alternative fuels with DuPont’s biggest acquisition since she became CEO two years ago.

The Danisco takeover “will help us solve global challenges presented by dramatic population growth in the decades to come, specifically related to food and energy,” Kullman said in the statement.

http://www.bloomberg.com/news/2011-01-10/dupont-to-acquire-danisco-for-6-3-billion.html

Well thank God we kept those tax breaks in place so American corporations can expand and create jobs here at home.

[glinda]

1. We are no longer the market. We have no money so they reap the finanacial

benefits form here and go and sell elsewhere. We be screwed.

[jmowreader]

3. We may not be that screwed

Danisco has nine production facilities plus six "innovation" facilities (R&D?) and three "sales" facilities (distribution centers?) in the United States.

The only real problem I see here is, it's just another instance of "buying innovation." DuPont has a lot of money--more than enough to create a new line of enzymes--but it was cheaper and quicker to buy a company that was already making them.

[Swamp Rat]

2. Is it Soylent Green yet?