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Monday, January 10, 2011

DuPont buying Danisco for $5.8 bln in food sector push

U.S. Chemicals firm DuPont said on Sunday it will buy Danish food ingredients and enzymes firm Danisco for $5.8 billion, boosting its position in the fast-growing food sector. The cash deal would enable DuPont to enter a niche in the chemical industry - food additives - long dominated by smaller rival International Flavors and Fragrances Inc . It would also solidify existing cooperation between the two companies in the field of technology for advanced bioethanol. However the acquisition will reduce DuPont's 2011 earnings of $3.30 to $3.60 per share by a range of 30 cents to 45 cents per share, the company said.

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