Dow, DuPont’s merge sails through

Dow, DuPont’s merge sails through

Two leading agriculture companies – Dow Chemical Company (Dow) and E.I. du Pont de Nemours & Company (DuPont) have completed a merger.

The entities are now operating a holding company under the name DowDuPont with three divisions – agriculture, materials science and specialty products.

DuPont and Dow shares ceased trading on the New York Stock Exchange (NYSE) end of August.

Pursuant to the merger agreement, Dow shareholders received a fixed exchange ratio of 1.00 share of DowDuPont for each Dow share, and DuPont shareholders received a fixed exchange ratio of 1.282 shares of DowDuPont for each DuPont share.

“We are extremely excited to complete this transformational merger and move forward to create three intended industry-leading, independent, publicly traded companies,” said Andrew Liveris, executive chairman of DowDuPont.

“Our teams have been working for more than a year on integration planning, and we will hit the ground running on executing those plans with an intention to complete the separations as quickly as possible,” Liveris said.

Ed Breen, Chief Executive Officer of DowDuPont said the transaction is a definitive step toward unlocking higher value and greater opportunities through a future built on sustainable growth and innovation.

“DowDuPont is a launching pad for three intended strong companies that will be better positioned to reinvest in science and innovation, solve our customers’ ever-evolving challenges, and generate long-term returns for our shareholders,” said Breen.

With the merger now complete, the focus is on finalizing the organizational structures that will be the foundations of the three intended strong companies and capturing the synergies to unlock value.

Previous Kapenta rigs raise alarm in Sinazongwe.
Next Coffee plantation to create jobs for Chingola

About author

You might also like

Business 0 Comments

Zambia Sugar: Barclays Raises U.S.$2 Billion for Projects

Barclays Bank has this year raised more than US$2 billion to support different projects in Zambia. Barclays Bank managing director Saviour Chibiya said the bank was able to raise funds

Sectors 0 Comments

Massey Ferguson launches new entry-level tractors and implement range for Africa and Middle East

LUSAKA, Zambia, Massey Ferguson, a worldwide brand of AGCO, is introducing a new range of 50hp-85hp tractors for selected African and Middle East markets. This latest move will further strengthen

Fertiliser manufacture Kropz engage new CEO

Ian Harebottle former Gemfields Chief Executive Officer has switched from the mining industry to agribusiness production. With over 17 years of experience in the mining sector, Harebottle’s leadership saw Gemfields