Outcome of DuPont's offer to buy Danisco is uncertain

DuPont's $3 billion bid for Danisco may be in jeopardy after Elliott Associates, an investment fund with a 4.9% interest in Danisco, said the plan is unlikely to be approved by 90% of Danisco shareholders by today's deadline. DuPont may extend the deadline but could stop negotiations if Danisco shareholders reject the offer, said DuPont CEO Ellen Kullman. One media report said it is uncertain how an Iowa cellulosic ethanol plant proposed by the two firms would be affected.

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