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Monday, January 10, 2011

Danisco shares top DuPont's $5.8 bln offer price, (DCO), (NYSE: DD)

Shares in Danisco (DCO.CO) briefly topped the price of the $5.8 billion bid from U.S. chemicals group DuPont (DD.N) on Monday after the chairman of the Danish food company said the offer was the best of several. The slim premium to DuPont's offer price suggested some investors were hoping for a counterbid or a higher offer from DuPont. However, analysts and traders said there were few suitors with the financial heft to take on DuPont and for whom buying all of Danisco would make strategic sense. "We do not expect that the bid from DuPont will be topped by others," Jyske Bank analyst Jens Thomens said in a note to clients.