Boards of directors originally approved the agreement in December 2015
By Diego Flammini
Assistant Editor, North American Content
Farms.com
The estimated $130 billion merger between Dow and DuPont is officially complete, the companies announced Thursday.
The deal, which has been in the works since December 2015, will see the organizations create three independent companies.
The Agriculture Company will include DuPont Pioneer, DuPont Crop Protection and Dow AgroSciences.
The Materials Science Company, which will be named Dow, will provide solutions in the packaging, transportation and infrastructure industries.
And the Specialty Products Company will consist of technology-driven specialty businesses.
It’s been a long road to this point and executives are looking to the future.
“For shareholders, customers and employees, closing this transaction is a definitive step toward unlocking higher value and greater opportunities through a future built on sustainable growth and innovation,” Ed Breen, CEO of DowDuPont, said in a statement.
DowDuPont timeline of events
- Dec. 11, 2015 – Boards of directors from each company approved a definitive agreement under which the companies would combine in a merger of equals.
- May 23, 2016 – Dow and DuPont announced senior leadership appointments for DowDuPont following the deal’s consummation.
- July 20, 2016 –Stakeholders from both companies voted in favor of approving all proposals necessary to complete the merger.
- March 27, 2017 –The European Commission granted conditional regulatory clearance in Europe for the merger.
- May 2, 2017 – Dow and DuPont announced China’s Ministry of Commerce granted conditional regulatory approval of the merger.
- May 11, 2017 – Both companies announce the members for the new board of directors.
- May 17, 2017 –Brazil’s Administrative Council for Economic Defense granted conditional regulatory approval for the merger.
- June 15, 2017 – Both companies announced they reached a proposed agreement with the Antitrust Division of the U.S. Department of Justice to proceed with the merger.
- June 28, 2017 –The boards of directors supported a portfolio review for DowDuPont before creating three separate companies.
- Aug. 4, 2017 – Dow and DuPont announced they’ve received all regulatory approvals.
- Sept. 1, 2017 – DowDuPont announced the merger is complete.