A dozen Danish institutional investors oppose U.S. chemicals group DuPont's (DD.N) 665-crowns-per-share bid for Denmark's Danisco (DCO.CO), chief portfolio manager at LD Invest said on Friday. LD Invest's Keld Henriksen said that he is adviser to a dozen Danish institutional shareholders in Danisco and not one of them would tender their shares to DuPont in the offer that is due to expire at 2100 GMT on Friday. LD Invest manages 6 billion Danish crowns ($1.19 billion) invested in Danish shares, but Henriksen declined to say what percentage of Danisco shares the institutions he advises own. DuPont has said it requires acceptance from Danisco shareholders with at least 90 percent of the stock to carry out the friendly takeover deal announced in January and to delist the Danish company. "If they want 90 percent, they must raise the price," Henriksen said.
E. I. du Pont de Nemours and Company (DuPont) offers a range of products and services for markets, including agriculture and food, building and construction, electronics and communications, general industrial and transportation. Shares of DD fell by 0.88% or $-0.5/share to $56.25. In the past year, the shares have traded as low as $33.66 and as high as $56.83. On average, 6043070 shares of DD exchange hands on a given day and today's volume is recorded at 633976.
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