Dow, DuPont Set Aug. 31 for Closing of Historic Chemical Merger
(Bloomberg) -- Dow Chemical Co. and DuPont Co., the two largest U.S. chemical makers, have received all the regulatory approvals needed to close their historic merger.
The deal will be completed after the stock market closes on Aug. 31, the companies said in a statement Friday. Shares of DowDuPont Inc. will begin trading Sept. 1 under the ticker DWDP.
The companies, with a combined market value approaching $150 billion, would surpass BASF SE as the world’s largest chemical company. Within 18 months of closing, DowDuPont has said it will split into three separate companies focused on agriculture, specialty products and materials.
In response to investor concerns, the boards of both companies are reviewing the planned three-way separation to determine what combination of spinoffs would create the most value for shareholders. The review is being led by Dow Chief Executive Officer Andrew Liveris, DuPont CEO Ed Breen, DuPont lead director Sandy Cutler and Dow lead director Jeff Fettig.
To contact the reporter on this story: Jack Kaskey in Houston at jkaskey@bloomberg.net.
To contact the editors responsible for this story: Brendan Case at bcase4@bloomberg.net, Mark Schoifet
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