Shareholders in DuPont and The Dow Chemical Company approved a merger of the two entities Wednesday.
DuPont shareholders held their vote during the company’s annual meeting Wednesday morning. Dow shareholders also voted Wednesday morning in favor of creating a combined 130 billion dollar entity.
Once finalized, the new Dow-Dupont Company plans to split into three independent companies. The long term goal is to separate the Agriculture, Material Science and Specialty Products businesses into three independent ventures.
The Ag and Specialty Products businesses will be headquartered in Delaware. The Material Science company will be based in Michigan.
The merger is expected to close later this year, pending approval from federal regulators.
The separation of the three companies is expected to take place within the next two years.
