DowDuPont merger successfully completed
DowDuPont has announced the successful completion of the merger of equals between The Dow Chemical Company and E.I. du Pont de Nemours & Company, effective August 31, 2017.
The combined entity is operating as a holding company under the name “DowDuPont” with three divisions – Agriculture, Materials Science and Specialty Products.
Stock market flotation
With effect from September 1, 2017, DowDuPont has started trading on the New York Stock Exchange under the stock ticker symbol “DWDP.”
“We are excited to complete this transformational merger and move forward to create three independent, publicly traded companies. While our collective heritage and strength are impressive, the true value of this merger lies in the intended creation of three industry powerhouses that will define their markets and drive growth for the benefit of all stakeholders”, said Andrew Liveris, executive chairman of DowDuPont.
Paths to separation
Dow and DuPont leaders and integration teams are developing the future state operating models and organisational designs that will support the refined strategy of each intended company. Once each division has its own processes, people, assets, systems and licenses in place to operate independently from the parent company, DowDuPont intends to separate the divisions to stand within their own legal entities, subject to Board approval and any regulatory approvals. The intended separations are expected to occur within 18 months.
The intended companies are expected to include:
A Materials Science Company, to be named Dow that will consist of the businesses comprising the following current Dow operating segments: Performance Plastics, Performance Materials & Chemicals, Infrastructure Solutions and Consumer Solutions (Consumer Care and Dow Automotive Systems; Dow Electronic Materials is intended to go to the Specialty Products Company), as well as DuPont’s current Performance Materials operating segment. The company will be headquartered in Midland, Michigan.
A Specialty Products Company that will consist of market-leading businesses including DuPont Protection Solutions, Sustainable Solutions, Industrial Biosciences and Nutrition & Health.
An Agriculture Company that brings together the strengths of DuPont Pioneer, DuPont Crop Protection and Dow AgroSciences.
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