Dow DuPont Mega-Merger Gains U.S. Approval
The $130 million mega-merger between Dow and DuPont announced in December 2015 has gained conditional approval from the U.S. Department of Justice.
Conditional to the approval is the necessary divestment of certain assets including DuPont’s Finesse herbicide for winter wheat and Rynaxypyr insecticides, which have annual sales of $100 million. Dow is being called upon to sell its U.S. acid copolymers and ionomers business, which creates products to make food packaging.
Following the completion of the deal, the companies have stated that they will split operations into three separate companies dedicated to material sciences, specialty products, and seeds and agrochemicals.
Dow and DuPont have already received regulatory approval from Europe, China, and Brazil, and together with approval from the U.S., the deal is only awaiting approval from Mexico and Canada.