DuPont Confirms Best and Final DKK 700 Per Share Offer for Danisco

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May 10, 2011, 05:04 ET

COPENHAGEN, Denmark, May 10, 2011 /PRNewswire/ -- DuPont (NYSE: DD), on behalf of its wholly owned subsidiary DuPont Denmark Holding ApS, confirmed today that its offer to acquire all of the outstanding shares of Danisco at a price of DKK 700 in cash per share is final. The tender offer period will expire on Friday, May 13, 2011, at 11 p.m. CEST (5 p.m. EDT).

"All major Danish institutional investors have expressed support for our revised offer and we remain confident that the tender will be completed successfully on May 13," said DuPont Chair and CEO Ellen Kullman. "As the deadline approaches, we want to ensure that there is no confusion in the market regarding our offer or our intentions. These terms represent our best and final offer.

"To be clear, we will not raise our price or further amend or extend our offer. In fact, the Danish Financial Supervisory Authority has made it clear that Danish regulations prevent us from making any further changes to these terms," Kullman said. "In the unlikely event that the current offer does not close, we would then move on to aggressively pursue other strategic opportunities that we've been exploring."

DuPont reminds Danisco shareholders that tendering shares is the only way to receive the full value and certainty of the DKK 700 cash tender offer.

DuPont (www.dupont.com) is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 90 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.

This news release does not constitute an offer or invitation to purchase any securities or a solicitation of an offer to buy any securities, pursuant to the tender offer or otherwise. The tender offer is being made solely by means of an Offer Document and the documents accompanying the Offer Document, which contain the full terms and conditions of the tender offer, including details of how the tender offer may be accepted. Danisco A/S shareholders are advised to read the Offer Document and the related documents that were sent to them because they contain important information.

Forward-Looking Statements: This news release contains forward-looking statements based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects," "anticipates," "plans," "intends," "projects," "indicates," and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by DuPont, particularly its latest annual report on Form 10-K and quarterly report on Form 10-Q, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw materials, research and development of new products, including regulatory approval and market acceptance; seasonality of sales of agricultural products; and severe weather events that cause business interruptions, including plant and power outages, or disruptions in supplier and customer operations. Risks and uncertainties relating to the acquisition that could cause the actual results to differ from expectations contemplated by forward looking statements include: uncertainties as to the timing of the tender offer; uncertainties as to how many Danisco shares will be tendered in the offer; the possibility that competing offers will be made; the possibility that various closing conditions for the transaction may not be satisfied or waived, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the transaction; the effects of disruption from the transaction making it more difficult to maintain relationships with employees, customers, other business partners or governmental entities; if the tender offer is completed, failure to achieve the expected benefits of the proposed acquisition. The company undertakes no duty to update any forward-looking statements as a result of future developments or new information.

SOURCE DuPont