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EC nod for European merger of DuPont & Dow
31 Mar '17
1 min read
The European Commission (EC) has granted conditional regulatory clearance in Europe to the proposed merger of equals between DuPont and Dow Chemical Company. The transaction between these two US headquartered companies is expected to create significant cost synergies of approximately $3 billion with the potential for $1 billion in growth synergies.
According to DuPont, this regulatory milestone is a significant step toward closing the merger transaction, with the intention to subsequently spin into three independent publicly traded companies.
"Longer term, the intended three-way split is expected to unlock even greater value for shareholders and customers and more opportunity for employees as each company will be a leader in attractive segments," the company added.
The EC’s approval is conditional on DuPont and Dow fulfilling commitments given to the EC in connection with the clearance. (AR)
According to DuPont, this regulatory milestone is a significant step toward closing the merger transaction, with the intention to subsequently spin into three independent publicly traded companies.
"Longer term, the intended three-way split is expected to unlock even greater value for shareholders and customers and more opportunity for employees as each company will be a leader in attractive segments," the company added.
The EC’s approval is conditional on DuPont and Dow fulfilling commitments given to the EC in connection with the clearance. (AR)
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