DuPont has successfully completed its takeover bid for Danish food additives maker Danisco after more than 92 percent of shareholders approved the tender, the companies said Monday.
DuPont offered 700 Danish kroner ($139.12) per share for Danisco in a bid that values it at more than $6 billion and that expired May 13. That was up from a previous offer of 665 Danish kroner in January.
The companies said Danisco shareholders had tendered 92.2 percent of Danisco shares and that Dupont will "initiate a compulsory redemption of all remaining shares."
Danisco CEO Tom Knutzen said that process will be completed next month, after which the Danish company will be delisted from the Copenhagen stock exchange.
Danisco will broaden DuPont's food products as the world's population and demand for food grows. Danisco's compounds are used to improve taste and extend shelf life in baked goods, beverages, animal feed and other products. The companies already have a partnership to develop ethanol technology.
E.I. DuPont de Nemours & Co. has been diversifying into new product areas in recent years.