ICS Magazine

DuPont Announces Successful Completion Of Tender Offer

June 17, 2003
WILMINGTON, Del. -(Dow Jones)- DuPont's (DD) DCI Acquisition Inc. successfully completed the tender offer for all the class A common shares, series 1, of DuPont Canada Inc., not owned by DuPont or its affiliates.

At the close of the offer period, more than 47 million shares, or 70.7% of the more than 66 million minority shares outstanding, were tendered to the offer, research and technology company DuPont said in a press release Tuesday. DCI Acquisition has accepted the shares and will pay for them within the time period permitted.

Including the acquisition of the additional shares under the offer, DCI Acquisition and its affiliates will own about 260 million shares, representing 93% of the issued and outstanding shares of Dupont Canada. DuPont Canada plans to call a special shareholder meeting to consider a merger or other transaction for DCI Acquisition and its affiliates to acquire all of the remaining DuPont Canada shares.

The meeting is expected to occur by the end of July.