Elliott Raises Danisco Stake To 4.9%

U.S. hedge fund, Elliott Associates, has raised its stake in Danish enzymes and food ingredients maker, Danisco, to 4.9% from 1.2%, Financial Times reports. The stake raise will now hinder the proposed $6 billion takeover of Danisco by chemical group, DuPont.

Elliott is opposed to DuPont’s takeover offer, terming it as too low. DuPont has twice sweetened the offer since launching its bid in January as it seeks to build support among Danisco shareholders.

Click here for the story from Financial Times.