Dow, DuPont Give Update on Merger

Posted: Updated:
Edward Breen (left) is chief executive officer of DuPont and Andrew Liveris (right) is CEO of Dow. Edward Breen (left) is chief executive officer of DuPont and Andrew Liveris (right) is CEO of Dow.
WILMINGTON, Del. and MIDLAND, Mich. -

The boards of directors of DuPont (NYSE: DD) and The Dow Chemical Co. (NYSE: DOW) say the companies have launched a comprehensive portfolio review of the combined operation to be created by a planned $130 billion merger. The boards also released a statement reaffirming their support of the merger and the expectation for the deal to close in August.

The study aims to identify "value-enhancing opportunities" ahead of the intended creation of three companies. That includes an $18 billion agriculture spinoff that will have a major presence at the current Dow Agrosciences facility in Indianapolis. The spinoffs of the newly-named DowDuPont are expected within 18 months of the merger closing.

Last month, the companies received approval from the U.S. Department of Justice's Antitrust Division for the merger. The agreement is still subject to court approval. In May, the companies announced the members of what will be the DowDuPont Boards of Directors. It will include 16 members, eight from Dow and eight from DuPont.

  • Perspectives

    • Can You Fulfill Your Quest?

      All of us have dragons to slay. At work or at home, in personal or professional relationships, each of us is on a Quest to find the treasure or save the prince/princess. Or perhaps, our goal is more prosaic: getting that promotion, standing up to that bully, or finishing that big project. In his book The Seven Basic Plots, Christopher Booker lists seven story forms which story tellers employ over and over. Each is plot is linked to a fundamental metaphysical Question that we...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Books & Brews Acquires Flat12 Bierwerks

      Indianapolis-based Books & Brews has announced its acquisition of Flat12 Bierwerks, also based in Indy. Financial terms of the deal are not being disclosed, however Books & Brews says it will continue to operate Flat12 under the same brand name. The acquisition is a continuation of an existing partnership between the two entities. Books & Brews says Flat12 has been a brewery partner for the past two years, brewing all of B&B's flagship and seasonal beers.

    • High Schools Launch Manufacturing Businesses

      Two student-run manufacturing businesses have launched in southern Indiana. The companies, Eagle Manufacturing at Brown County High School in Nashville and Lion Manufacturing at Loogootee High School in Martin County, are designed to give students hands-on, real world experience. The businesses were funded with grants from Bloomington-based nonprofit Regional Opportunity Initiatives Inc. In an interview with Inside INdiana Business, ROI Chief Executive Officer...

    • Fair Oaks Farms to Open New Hotel

      After more than a year of construction, Fair Oaks Farms will Thursday open its new $15 million hotel. The Fairfield Inn by Marriott, Fair Oaks Farms features 99 rooms, including 31 suites, some of which are located within two silos on the property.

    • Haan Crafts Closing in Benton County

      Haan Crafts LLC says it will close its facility in Benton County, resulting in 27 layoffs. The more than 40-year-old company says a growing number of schools cutting sewing classes has made it impossible to sustain "a profitable, stand-alone business."

    • Indiana's Safest Cities Ranked

      The National Council for Home Safety and Security has released its annual list of the Safest Cities in Indiana. The list was compiled using the most recent FBI Uniform Crime Statistics combined with the council's own population data and internal research. Cities were ranked based on the number of reported violent crimes and property crimes per 1,000 people. Cities that failed to submit a complete crime report to the FBI and cities with populations under 10,000 were excluded from the...