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Friday, April 15, 2011

DuPont gets China's OK for Danisco deal -source, (NYSE: DD), (DCO)

Chinese regulators have approved U.S. chemicals group DuPont's (DD.N) $6 billion acquisition of Danish food ingredients and enzymes producer Danisco (DCO.CO), a source familiar with the matter said on Friday. Clearance by China was the last major regulatory hurdle after U.S. and European Union regulators approved the friendly takeover announced in January. But the deal has yet to win approval from Danisco shareholders. On March 30, DuPont extended its 665 Danish crowns ($128.9) per share offer for Danisco to April 29 after Danisco shareholders with only 6 percent of the stock had accepted the bid.

Source