U.S. hedge fund, Elliott Associates, has objected to DuPont’s $5.8 billion offer for Danisco, Financial Times reports. Elliott, who has a 1.2% stake in the Danish pharmaceutical company, has written to its directors opposing the deal.

SEB Asset Management of Sweden, which owns about 2% of the Copenhagen-based company, has also opposed the deal. DuPont will complete the acquisition once it receives acceptances representing 90% of Danisco stock.

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