Dow and dupont are merged completely and will split into three companies2017.11.29 09:38
Dow DuPont announced on Sep 1st, Dow Chemical Company (Dow) and DuPont Co (DuPont) successfully completed the merger in August 31st, the name is "Dow DuPont" after the merger, the world's largest chemical company generated.
According to the merger agreement, Dow's shareholders converted Dow's stock to Dow DuPont's stock at a fixed percentage of 1:1, DuPont's shareholders may exchange 1.282 Dow Dupont's shares per DuPont's share. It is reported that the transaction is expected to produce an optimization effect of approximately $3 billion in operating costs, and may achieve approximately $1 billion growth optimization effect. The company expects its operating cost optimization to reach 100% within 24 months after the end of the transaction.
Dow DuPont's board of Directors consists of 16 members, 8 directors from the former DuPont's board, and another 8 from the original Dow's board.
Dow DuPont's board of directors has established three advisory committees, especially responsible for leading the establishment of three major business units, which are the agricultural sector, the materials science department and the special product department, and for the preparation of the resolution later.
The split is expected to take place within 18 months, companies of the plan are expected to include: to combine the advantages of DuPont Pioneer, DuPont plant protection and Dow AgroSciences to form an agricultural company, the headquarters of the planned agricultural company will be set up in Wilmington, DE, US, its global business center will be based in Johnston, IA, and Indiana, IN.
Material Sciences Corp (will be named Dow): will be composed of several current business sectors of Dow and high-performance materials division of Dupont, the headquarters of planned Material Sciences Corp will be located in Midland, MI.
Special products company: will be made up of strong business segments that lead the market, the headquarters of planned special product company will be located in Wilmington, DE.