US DowDuPont merger gets shareholder approvals
Stefan Baumgarten
20-Jul-2016
The
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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