DuPont (NYSE:DD) Announces the Acquisition of Danisco for $5.8 Billion Plus Debt

DuPont announced today that it has entered into an agreement with Danisco to acquire them for $5.8 billion plus assuming their net debt of $500 million, to make the overall deal worth $6.3 billion.

The deal will be financed by approximately $3 billion in cash on hand and the rest through debt.

Closing of the acquisition is expected to be in the early part of the second quarter and be cash and earnings accretive in 2012, based on the combined company being together for a full year.

DuPont has projected earnings per share to be in a range of $3.30 to $3.60 per share for 2011, and after this deal see it dropping to a range of $3.00 to $3.15 a share for the year.

DuPont was trading at $48.33, down $1.43, or 2.87 percent, as of 11:18 AM EST.