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Chlor-Alkali–Transaction Dow–Olin Chlor-Alkali–Megadeal Takes Next Step

| Editor: Dominik Stephan

The planned transaction of a significant portion of Dow’s chlorine value chain to Olin has expired a 30-day antitrust review waiting period. This marks an important milestone for the proposed megadeal, both companies explained.

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(Picture: Dow)

Midland, Michigan/USA – Dow Chemicals and Olin achieved another regulatory milestone in the proposed transaction involving a significant portion of Dow’s chlorine value chain and Olin Corporation, with the expiration of the required waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976.

“This important milestone marks progress toward the close of a seminal transaction maximizing return for both Dow and Olin shareholders and the advancement of Dow’s targeted market participation and portfolio transformation strategies,” said Andrew N. Liveris, Dow’s chairman and chief executive officer.

Creating an Industry Heavyweight in Chlor–Alkali

As announced in March 2015, Dow and Olin entered into a definitive agreement under which Dow will separate its U.S. Gulf Coast Chlor-Alkali and Vinyl, Global Chlorinated Organics and Global Epoxy businesses, and then merge these businesses with Olin in a Reverse Morris Trust transaction. The merger will result in Dow shareholders receiving at least a majority of the shares of Olin, with existing Olin shareholders owning the remaining shares.

“We are one step closer to combining the world-class assets and people of Dow and Olin taking our business to an entirely new level in terms of scale, integration, cost-advantaged feedstocks, and a broad and diverse end-uses portfolio, ultimately creating value for our customers,” said Joseph D. Rupp, Olin’s chairman and chief executive officer. The transaction is expected to close by the end of the year and is subject to approval by Olin shareholders and completion of customary closing conditions.

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