Photo credit Dow/DuPont
The Dow Chemcial Company and DuPont each held a special meeting of stockholders this week– meetings that resulted in approval to move forward with the merger. This is a key milestone for the two companies and now plans are going ahead to purse three, highly focused, independent companies. Finalization of the merger is expected to wrap up by the end of 2016, dependent upon closing conditions and receipt of regulatory approvals.
“The overwhelming support of Dow and DuPont stockholders to approve this historic merger transaction is a clear testament to the compelling value proposition and enhanced shareholder value that DowDuPont represents,” Andrew N. Liveris, Dow’s chairman and CEO offers. “Today is a pivotal step toward bringing together these two iconic enterprises, and to the subsequent intended separation into three leading, independent technology and innovation-based science companies that will
“We are pleased to receive such strong support from our stockholders, which represents an essential milestone in the combination of our two companies and our intention to subsequently separate into three independent companies,” says Ed Breen, chair and CEO of DuPont. “We are now focused on important next steps toward completing the merger transaction, including working with regulators in the appropriate jurisdictions. We are confident that this merger will create long-term, sustainable value for stockholders and superior solutions and choices for customers.”
DuPont and Dow intend that, following the consummation of the merger, the combined company will pursue the separation of the combined company’s Agriculture business, Material Science business and Specialty Products business into three independent, publicly traded companies, subject to approval by the DowDuPont board and receipt of any required regulatory approvals.
The intended subsequent separation into three independent, publicly traded companies is expected to be consummated as soon as practicable following the merger closing, but consummation of the separations is not expected to exceed 18-24 months after the merger closing.
Voting results will be filed and you can view them at http://www.dow.com/en-us/investor-relations/financial-reporting and http://investors.dupont.com, respectively, after certification by each company’s inspector of elections.
A separate website dedicated to information about the merger is also available.