Danisco (Denmark) aquires Genencor (USA) for 419 million USD

Danisco, one of the world´s largest producers of food ingredients, and Genencor International, Inc. (Nasdaq: GCOR) (´Genencor´), a diversified biotechnology company that develops and delivers innovative products and services into the health care, agri-processing, industrial and consumer markets, today jointly announced that they have signed a definitive agreement for Danisco to acquire all of the outstanding shares of common stock of Genencor, other than those held by Danisco, Eastman Chemical Company (´Eastman´) or their respective subsidiaries, for USD 19.25 per share in cash.

Genencor´s intensive focus on research and development and world-class capabilities in enzyme discovery, optimisation and production will fill Danisco´s gaps in the enzyme value chain. Combined with Danisco´s capabilities in enzyme application and development for food and feed along with our strong global platform for selling and servicing these two industries, this will give a significant competitive edge for the Danisco divisions dealing with food and feed enzymes.

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News Source: Press Release, Dansico 2005-01-27