DuPont and The Dow Chemical Company announced June 15 that they reached a proposed agreement with the antitrust division of the United States Department of Justice that will permit the companies to proceed with their proposed merger of equals.
In connection with the proposed agreement and consistent with commitments already made to obtain the European Commission's regulatory approval, DuPont will divest certain parts of its crop protection portfolio and Dow will divest its global Ethylene Acrylic Acid copolymers and ionomers business. The proposed agreement with the DOJ, which remains subject to court approval, does not require the companies to make any additional divestitures. With this agreement, no further approvals are required in the U.S. for the merger to close.
The companies reiterated that the merger transaction is expected to generate cost synergies of approximately $3 billion and growth synergies of approximately $1 billion.
The companies expect to close the merger in August 2017, with the intended spin-offs to occur within 18 months of closing.
Additional information is available at www.dowdupontunlockingvalue.com.