Thursday 19 October 2017
 
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$130bn ENTITY

Andrew Liveris and Edward Breen

Dow, DuPont complete merger to form DowDuPont

NEW YORK, September 3, 2017

The  Dow  Chemical  Company  and DuPont have completed their planned $130 billion merger to form a combined entity   operating  as  a  holding  company  under  the  name  DowDuPont  with  three  divisions  – agriculture, materials science and specialty products.

Shares  of  DuPont  and Dow ceased  trading  at  the  close  of  the  New  York  Stock  Exchange  (NYSE)  on August 31. DowDuPont will start trading on the New York Stock Exchange under the stock ticker symbol “DWDP.”

Pursuant to the merger agreement, Dow shareholders received a fixed exchange ratio of one share of DowDuPont for each Dow share, and DuPont shareholders received a fixed exchange ratio of 1.282 shares of DowDuPont for each DuPont share.

“Today marks a significant milestone in the storied histories of our two companies,” said Andrew Liveris, executive chairman of DowDuPont. “We are extremely excited to complete this transformational merger and  move  forward  to  create  three  intended  industry-leading,  independent,  publicly  traded  companies.”

“While our collective heritage and strength are impressive, the true value of this merger lies in the intended creation of three industry powerhouses that will define their markets and drive growth for the benefit of all stakeholders. Our teams have been working for more than a year on integration planning, and --   as of today -- we  will  hit  the  ground  running  on  executing  those  plans  with  an  intention  to  complete  the  separations as quickly as possible,” he added.

“For  shareholders,  customers  and  employees,  closing  this  transaction  is  a  definitive  step  toward  unlocking  higher  value  and  greater  opportunities  through  a  future  built  on  sustainable  growth  and  innovation,”  said  Ed  Breen,  chief  executive  officer  of  DowDuPont.

“DowDuPont is a launching pad for three intended strong companies that will be better positioned to reinvest in science and innovation, solve our customers’ ever-evolving challenges, and generate long-term returns for our shareholders. With the merger now complete, our focus is on finalizing the organizational structures that will be the foundations of these three intended strong companies and capturing the synergies to unlock value. With clear focus, market  visibility  and  more  productive  R&D,  each  intended  company  will  be  equipped  to  compete  successfully as an industry leader,” Breen noted. - TradeArabia News Service




Tags: Dow | merger | DuPont | DowDuPont |

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