The European Union will approve Dow Chemical and DuPont $130 billion merger2017.05.02 09:03
In February 23rd, it was reported that the EU antitrust regulators will approve the fine-tuning of Dow Chemical and DuPont $130 billion merger. In addition, Dow Chemical spokesman confirmed on 22, and its merger with DuPont has been approved by the European union.
The two companies had said in early February to sell part of the business to alleviate antitrust concerns. At the beginning of February this year, Dow Chemical and DuPont Co proposed part of crop protection and divestiture of DuPont Co R & D department related, while the sale of humic acid copolymers and ionomers Dow Chemical business. On the basis of the remedy, the European Commission is expected to approve the merger, but the Committee has not yet fully determined. The EU is scheduled for April 4th before the transaction to make a decision, but the decision to approve the deal may be released shortly before the deadline.
In December of last year, the Dow and DuPont announced the merger, the two will each hold 50% stake, the directors also have a total of 8 people. Wall Street informative article mentioned at the time, the market capitalization of the two companies were close to $60 billion, after the merger will become the world's second only to BASF's second largest chemical company Monsanto and beyond to become the world's largest seed and pesticide companies.
Dow and DuPont said that the two companies will merger, and then split into three independent listed companies, focusing on agriculture, materials science and professional products, will bring $3 billion of synergies cost.