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REFILE-Danisco chairman declines to name other bidders
January 10, 2011 / 11:48 AM / in 7 years

REFILE-Danisco chairman declines to name other bidders

(Corrects typographical error in spelling of “winner”, final paragraph)

COPENHAGEN, Jan 10 (Reuters) - Danish food ingredients and enzymes maker Danisco’s DCO.CO chairman declined on Monday to identify other bidders who he said had been interested in buying Danisco in addition to U.S. chemicals group DuPont DD.N.

DuPont late on Sunday announced a friendly $5.8 billion cash offer to acquire Danisco.

“We have had several bids,” Danisco chairman Jorgen Tandrup told a news conference, but he declined to say how many or to identify the rival bidders.

Tandrup said the process had been under way for months.

“We have been through a structured process to secure that we got the absolute best offer,” he said. “There has been a competition among several companies, and up to last night we still had bidders competing for the company.”

“There were two factors which really decided who was going to be the winner, first of all price,” he said. “DuPont came up with the best price, and we also believe that DuPont came up with the best fit, and that might also be the reason they came up with the best price.”

For more on DuPont’s bid to acquire Danisco, see [ID:nN09219516].

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