DuPont (DD.N) raised its offer for Danisco (DCO.CO) by 5 percent to $6.64 billion on Friday, bowing to pressure from dissident Danisco shareholders who had complained the initial offer was too low. DuPont Chief Executive Ellen Kullman had aggressively courted shareholders of the Danish food additive maker for weeks. The U.S. chemicals maker wants Danisco's technology as part of a bigger push into the foods business. A confluence of minority shareholders who insisted on a higher bid stood firm, forcing DuPont to tweak the offer. "This is a very strong sign of dedication on the side of DuPont," Danisco's Chief Executive Tom Knutzen told Reuters. "This can only strengthen the (Danisco) board's recommendation to shareholders" to accept the deal.
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 traded higher by 0.07% or $0.04/share to $56.79. In the past year, the shares have traded as low as $33.66 and as high as $56.88. On average, 5988210 shares of DD exchange hands on a given day and today's volume is recorded at 5457761.
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