Dow-Dupont merger on track to be completed in Au - sportstextiles: Lea SportsTextiles

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Dow-Dupont merger on track to be completed in August

19/06/2017
Chemical groups DuPont and Dow will be able to proceed with their proposed merger of equals after reaching an agreement with the Antitrust Division of the US Department of Justice (DOJ).

“We are very pleased that the DOJ has approved this transaction,” said Andrew Liveris, Dow chairman and chief executive officer. "With today’s DOJ clearance, we have taken a significant step forward in bringing together these two iconic enterprises, and in the subsequent intended separation into three leading, independent innovation-based science companies that will generate significant benefits for all stakeholders."

“The intended subsequent spin-offs are expected to unlock significant value for shareholders, as we execute our plan for each company to be a growth-oriented leader in attractive segments where global challenges are generating strong demand for their distinctive offerings,” added Ed Breen, CEO of DuPont.

The companies confirmed they expect the merger to be completed by August 2017. The intended spin-offs, which will include a material science company, would occur within 18 months of closing, they added. 

Related stories:

Dow-DuPont merger is complete 01/09/2017
Dow-Dupont merger delayed, but new material science company will emerge 31/03/2017

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