The Board of Directors of DuPont and Dow Chemical Company on 11 December 2015 unanimously approved a definitive agreement to merge the two companies in an all-stock deal.
The merged company will be named DowDuPont and it will have a combined market capitalization of approximately 130 billion dollars at announcement.
Details of Agreement
Besides, the two companies also agreed to subsequently pursue a separation of DowDuPont into three independent, publicly traded companies through tax-free spin-offs.
The companies will include a leading global pure-play Agriculture company; a leading global pure-play Material Science company; and a leading technology and innovation-driven Specialty Products company.
About the Companies
DuPont is an American chemical company that was founded in July 1802 as a gunpowder mill by Eleuthere Irenee du Pont. Its present Chief Executive Officer (CEO) is Edward D. Breen.
The Dow Chemical Company is an American multinational chemical corporation headquartered in Midland, Michigan, United States. It was founded in 1897 by Herbert Henry Dow. Its present CEO is Andrew N. Liveris.
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When: 11 December 2015