Coatings Industry News

Main News Page


Dow-DuPont Merger Close Date Set

Monday, August 14, 2017

Comment | More

A close date of Aug. 31 was been set for the merger between two chemical-industry giants, as the companies say all necessary regulatory approvals have been made.

The Dow Chemical Company (Midland, Michigan) and DuPont (Wilmington, Delaware) will complete the merger process at the end of this month, at which point they will become one company, known as DowDuPont. The plan is for that company to then split into new, smaller businesses based on segment.

The Dow Chemical Company

Chemical giants The Dow Chemical Company and DuPont have announced that all required regulatory approvals and clearances have been received, signaling an end date for the two companies’ merger.

The $130 billion deal was announced in December 2015, with officials adding that DuPont CEO Edward Breen will serve as CEO of DowDuPont, and Dow CEO Andrew Liveris will fill the role of executive chairman.

Stocks & Spinoffs

In a shared press release, the companies said that the merger will close on Aug. 31, after the market closes. Shares of the individual companies at the New York Stock Exchange will also end at that point, and on Sept. 1, DowDuPont will begin trading under the ticket DWDP.

Spin-offs are still expected to occur within 18 months. The company will be split into three different entities.

The Material Science Company will include DuPont’s Performance Materials segment along with Dow’s Performance Plastics, Performance Materials and Chemicals, Infrastructure Solutions and Consumer Solutions. These businesses include the companies’ coatings-related unit, such as Dow Polyurethanes and Dow Coating Solutions.

The Specialty Products Company will encompass DuPont’s Nutrition and Health, Industrial Biosciences, Safety and Protection and Electronics and Communication segments, as well as Dow’s Electronic Materials.

Edward Breen and Andrew Liveris
DuPont

The $130 billion deal was announced in December 2015, with officials adding that DuPont CEO Edward Breen, left, will serve as CEO of DowDuPont and Dow CEO Andrew Liveris will fill the role of executive chairman.

The Agriculture Company will include both companies’ seed and crop protection businesses.

Divestitures

The Department of Justice and Federal Trade Commission approved the DowDuPont transaction in mid-June, on the condition that each company make divestitures, which had already been announced.

Dow announced in February that it planned to sell its Ethylene Acrylic Acid copolymers and ionomers business to SK Global Chemical Co. Ltd. Dow and DuPont were the country’s only suppliers of acid copolymers and ionomers, which are used in consumer product packaging and industrial applications such as metalized building panels. Seoul-based SK is a manufacturer of olefins, aromatics, performance chemicals and polymers, as well as synthetic rubber.

In March, DuPont entered into an agreement with FMC Corporation for the sale of a portion of its Crop Protection business. In that deal, DuPont acquired FMC’s Health and Nutrition business and received $1.2 billion cash from FMC in exchange for what FMC called “a significant portion” of DuPont’s Crop Protection business.

   

Tagged categories: AS; Asia Pacific; Business matters; Coatings raw materials manufacturers; Dow Chemical Company; DuPont; EMEA (Europe, Middle East and Africa); EU; Latin America; Mergers; NA; North America; Program/Project Management; SA

Comment Join the Conversation:

Sign in to our community to add your comments.


Advertisements
 
KTA-Tator, Inc. - Corporate Office

 
Fischer Technology Inc.

 
SAFE Systems, Inc.

 
Tarps manufacturing, Inc.

 
Mitsubishi Gas Chemical America

 
RCG America

 
Sidewinder/Persyst Enterprises, Inc.

 
HoldTight Solutions Inc.

 
WEFTEC Show

 
 
 

Technology Publishing Co., 1501 Reedsdale Street, Suite 2008, Pittsburgh, PA 15233

TEL 1-412-431-8300  • FAX  1-412-431-5428  •  EMAIL webmaster@paintsquare.com


The Technology Publishing Network

PaintSquare the Journal of Protective Coatings & Linings Paint BidTracker

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy Policy   |   Terms & Conditions   |   Support   |   Site Map   |   Search   |   Contact Us