US/DENMARK: US hedge fund Elliott buys stake in Danisco
The fund's move has been revealed just days before the deadline for Danisco shareholders to accept DuPont's offer expires.
However, some shareholders in Danisco have argued that DuPont's bid does not adequately value the Danish business.
A source familiar with Elliott's investment told just-food today (26 April) that the fund was "extremely confident" that DuPont would not receive the support it needs to proceed with its bid. DuPont's offer expires on 29 April and the company needs the backing of 90% of Danisco's shareholders.
DuPont declined to comment on Elliott's investment in Danisco but a spokesperson for the US group said the company's offer for the ingredients maker remained "full, fair and firm".
The owners of soy ingredients maker Solae have reportedly started to examine the options for the business....
just-food's insight pages were full of interviews and analysis this week. As Auchan's Sun Art Retail Group venture listed in Hong Kong, we looked at the growth of China's hypermarket sector. Our food ...
US conglomerate DuPont has refused to be drawn on reports that it and agribusiness giant Bunge are looking to sell their soy products venture Solae....
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