US DowDuPont merger gets shareholder approvals

Stefan Baumgarten

20-Jul-2016

The DowDuPont merger awaits regulatory approval after shareholders voted to proceed with the dealThe DowDuPont merger awaits regulatory approval after shareholders voted to proceed with the deal.
Source: ddp USA/REX/Shutterstock

HOUSTON (ICIS)–The shareholders of US chemical majors Dow Chemical and DuPont on Wednesday approved the proposed merger of the two companies into DowDuPont.

The merger is expected to be completed in the second half of 2016, subject to customary closing conditions, including receipt of regulatory approvals.

“The overwhelming support of Dow and DuPont stockholders to approve this historic merger transaction is a clear testament to the compelling value proposition and enhanced shareholder value that DowDuPont represents,” said Andrew Liveris, Dow’s chairman and CEO.

“Today is a pivotal step toward bringing together these two iconic enterprises, and to the subsequent intended separation into three leading, independent technology and innovation-based science companies that will generate significant benefits for all stakeholders,” he added.

Following completion of the merger, which was first announced last December, DowDuPont is to be separated, within 18 to 24 months, into three independent publicly traded companies: agriculture; material sciences, and specialty products.

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