German China India

USA: Chemical Industry

Dupont and Dow Announce Closing Date for Merger

| Editor: Alexander Stark

Edward D. Breen, Chairman and CEO of Dupont, and Andrew N. Liveris, President Chairman and CEO of Dow.
Edward D. Breen, Chairman and CEO of Dupont, and Andrew N. Liveris, President Chairman and CEO of Dow. (Source: The Dow Chemical Company)

Dupont and The Dow Chemical Company announced that all required regulatory approvals and clearances have been received, that all conditions to closing of their merger of equals have been satisfied, and that their merger of equals will close after the market closes on August 31, 2017.

Wilmington/USA — As part of the merger, shares of Dow and Dupont will cease trading at the close of the New York Stock Exchange on August 31. Shares of Dow Dupont will begin trading on the NYSE under the stock ticker symbol “DWDP” on September 1, 2017.

The Boards of Directors of both companies reiterate their support of the merger agreement. In addition, both Boards support a comprehensive portfolio review for the new company, which is intended to assess current business facts and leverage the knowledge gained over the past year and a half to capture any material value-enhancing opportunities in preparation for the intended creation of three industry-leading companies.

A new Number One: What the Dow-DuPont-Merger Means for Chemicals

Dow-DuPont-Merger

A new Number One: What the Dow-DuPont-Merger Means for Chemicals

12/15/2015 - Dow and DuPont get serious about their proposed merger: This US $ 130 union of giants would create the world’s largest chemicals company, even dwarfing the likes of BASF. But the coming bememoth could lead a short life: The partners plan to split up the Dow-DuPont-portfolio into three independent companies... read...

The Boards have jointly commenced the review and have engaged Mckinsey & Co. to assist the companies in this assessment. The lead independent directors of each company are working together to oversee the process.

“The management teams and directors of both companies are in regular dialogue with our shareholders, and we have undertaken significant preparation work in advance of the close,” said Jeff Fettig, Lead Director of Dow.

“As a collective board we are committed to delivering maximum, long-term shareholder value by ensuring that each of the intended companies will have clear focus, an appropriate capital structure, a distinct and compelling investment thesis, scale advantages, and focused investments in innovation to better deliver superior solutions and choices for customers.”

Comments are being loaded ....

Leave a comment
  1. Avatar
    Avatar
    Edited by at
    Edited by at
    1. Avatar
      Avatar
      Edited by at
      Edited by at

Comments are being loaded ....

Report comment

Kommentar Freigeben

Der untenstehende Text wird an den Kommentator gesendet, falls dieser eine Email-hinterlegt hat.

Freigabe entfernen

Der untenstehende Text wird an den Kommentator gesendet, falls dieser eine Email-hinterlegt hat.

copyright

This article is protected by copyright. You want to use it for your own purpose? Infos can be found under www.mycontentfactory.de (ID: 44827322 / Business & Economics)