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Sunday, January 9, 2011

DuPont strikes $5.8 bln Danisco deal

U.S. Chemicals firm DuPont said on Sunday it will buy Danish food ingredients and enzymes firm Danisco for $5.8 billion, in a rare large deal that should boost 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 . 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.