Approvals from competition authorities in connection with the voluntary recommended public offer


Company announcement no. 10/2011                                       15 April 2011

 

Approvals from competition authorities in connection with the voluntary recommended public offer submitted by a subsidiary of E. I. du Pont de Nemours and Company to the shareholders of Danisco A/S

On 21 January 2011, DuPont Denmark Holding ApS, Central Business Register (CVR) no. 33 38 21 54, c/o Plesner, Amerika Plads 37, 2100 Copenhagen Ø (the "Offeror"), which is a wholly-owned and fully controlled subsidiary of E. I. du Pont de Nemours and Company ("DuPont"), published an offer document (the "Offer Document") concerning a voluntary public offer to the shareholders of Danisco A/S ("Danisco") pursuant to which the Offeror offered to purchase all shares in Danisco at a price of DKK 665 in cash per share of a nominal value of DKK 20 each (the "Offer"). Reference is made to company announcement no. 5/2011.

As stated in section 3.6 of the Offer Document, the Offer is inter alia conditional on the Offeror obtaining any necessary approvals and clearances from the relevant competition authorities in the European Union and China to complete the Offer, and the applicable waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976, as amended, having expired or been terminated.

In connection hereto, reference is made to DuPont's announcement of 28 January 2011, which stated that the waiting period applying in the USA under the Hart-Scott-Rodino Antistrust Improvements Act of 1976, as amended, had expired.

On 18 February 2011 and 30 March 2011, respectively, the Offeror announced supplements to the Offer Document, whereby the offer period was extended until 1 April 2011 and 29 April 2011, respectively, as a result of the necessary approvals and clearances from the competition authorities in the European Union and China having not yet been obtained. Reference is made to company announcements no. 7/2011 and no. 9/2011.

On 4 April 2011, the Offeror obtained approval from the competition authorities in the European Union and on 15 April 2011, approval was obtained from the competition authorities in China necessary to complete the Offer. As such, all regulatory conditions to the Offer have now been satisfied, cf. section 3.6 of the Offer Document. Reference is made to the Offeror's announcement of today's date.

The offer period will expire on 29 April 2011 at 11:00 p.m. (Danish time) (29 April 2011 at 5:00 p.m. New York time).

Please note the following dates in relation to the Offer:

 

29 April 2011 Expiry of the offer period.
2 May 2011 Anticipated announcement of the result of the Offer.
 
5 May 2011 Anticipated completion (including settlement) of the Offer.

Taking into consideration the advantages and disadvantages of the Offer and considering the other matters analysed in the Board's statement of 21 January 2011, the Board has unanimously recommended shareholders to accept the Offer.

 

Yours sincerely

 

Jørgen Tandrup

Chairman of the Board of Directors

  


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10-2011 UK konkurrencemyndighedernes godkendelse.pdf