Dow DuPont merger gains U.S. approval
The Dow-DuPont merger cleared its final U.S. hurdle Thursday.
The U.S. Department of Justice Anti-Trust Division gave the $140 billion dollar deal its blessing after reviewing it for about a year.
Once the merger is completed, the combined company plans to split into three independent companies by 2019. Two of them – specialty products and agriculture – will be headquartered in the First State.
In a joint statement, Dow and DuPont say they expect the merger to be finalized this August. They first announced it in December 2015.
“With this review completed, we are on track to close our procompetitive merger in a manner that maintains the strategic logic and value creation potential of the transaction," said DuPont chair and CEO Ed Breen in a statement.
“We are very pleased that the DOJ has approved this transaction,” said Dow Chairman and CEO Andrew Liveris, Dow's chairman and chief executive officer in a statement"With today’s DOJ clearance, we have taken a significant step forward in bringing together these two iconic enterprises."
The deal only needs one more regulatory approval – from Canada.