DuPont (NYSE: DD) and The Dow Chemical Co. (NYSE: DOW) have announced their proposed $130 billion merger has cleared all regulatory approvals and closing conditions. The deal to create DowDuPont will officially close August 31.
The day after the merger closes, the combined company will begin trading on the New York Stock Exchange under the symbol DWDP. Work will then begin on spinning DowDuPont out into three, independently traded entities, which is expected to take 18 months to complete.
One of the spinoff companies will be an $18 billion ag-focused business that will have a presence in Indianapolis. It will be located in the current Dow Agrosciences facility on the northwest side of Indianapolis.
Dow Chief Executive Officer Andrew Liveris will become executive chairman of DowDuPont, which will include leading the company’s material science business. DuPont CEO Edward Breen will serve as CEO of DowDuPont’s agriculture and specialty products businesses.