8-KAcquisitions & Dispositions

EIDP, Inc. 8-K Report, Acquisition Completed (May 24, 2011)

Filed May 24, 2011For Securities:CTA-PBCTA-PA

Summary

E. I. du Pont de Nemours and Company ("DuPont") announced the completion of its acquisition of approximately 92.2% of the outstanding shares of Danisco A/S ("Danisco") on May 19, 2011. This significant transaction was executed through DuPont's wholly-owned subsidiary, DuPont Denmark Holding ApS, at a price of DKK 700 in cash per share. The total consideration for the acquired shares amounted to approximately $6 billion, exclusive of Danisco's net debt. The acquisition was conducted via a tender offer, and due to the high acceptance rate (over 90%), DuPont is initiating a compulsory acquisition procedure under Danish law to acquire the remaining shares. This process is expected to conclude in the third quarter of 2011, resulting in DuPont achieving 100% ownership of Danisco.

Key Highlights

  • 1DuPont has successfully acquired approximately 92.2% of Danisco A/S shares as of May 19, 2011.
  • 2The acquisition was made through DuPont's subsidiary, DuPont Denmark Holding ApS.
  • 3The purchase price was DKK 700 in cash per share.
  • 4The total cash consideration for the acquired shares was approximately $6 billion.
  • 5DuPont is initiating a compulsory acquisition process to gain full 100% ownership of Danisco.
  • 6Full ownership of Danisco is anticipated to be completed by the third quarter of 2011.
  • 7The transaction excludes Danisco's net debt from the $6 billion consideration.

Frequently Asked Questions

The main event reported is the completion of DuPont's acquisition of approximately 92.2% of the outstanding shares of Danisco A/S on May 19, 2011.

DuPont paid approximately $6 billion in cash for the acquired shares, not including Danisco's net debt. The price per share was DKK 700.

Yes, DuPont is currently in the process of a compulsory acquisition procedure to acquire the remaining outstanding shares, aiming for 100% ownership by the third quarter of 2011.

While not detailed in this filing, Danisco A/S is a company whose shares were acquired by DuPont. Based on typical industry knowledge, Danisco is a global leader in specialty ingredients, particularly in food and industrial applications.