I nailed this one and it's my biggest holding : + ) My interpretation was right!
To: richardred who wrote () 6/7/2004 5:32:04 AM
From: richardred of 617
GCOR-My interpretation
We will sell at a higher price, or entertain a reasonable offer made above the current price!
EMN-He added that the next step for the company is to decide what it will do with its 42 percent stake in Genencor International Inc. (NasdaqNM:GCOR - News), a biotech company involved in the health care, agri-processing and consumer markets.
Ferguson last commented on the Genencor investment earlier this year, saying on a conference call, "We view our stake in Genencor as a financial asset. We continue to believe that the value of our stake in Genencor is not reflected in our stock price."
Danisco to bid for Genencor, buys Eastman's stake
Thu Jan 27, 2005 08:37 AM ET
COPENHAGEN, Jan 27 (Reuters) - Danish sugar and ingredients group Dansico (DCO.CO: Quote, Profile, Research) said on Thursday it had bought Eastman Chemical's (EMN.N: Quote, Profile, Research) 42 percent stake in U.S. biotech firm Genencor (GCOR.O: Quote, Profile, Research) and offered to buy out remaining shareholders for $19.25 per share.
Danisco and Eastman currently own approximately 42 percent each in Genencor. In a statement Danisco said it had agreed to buy Eastman's stake for $419 million. |
