Which lasted 21 months, the United States Dow Chemical Company (DOW) and DuPont (DuPont) completed the merger, the new world’s largest chemical company was born.
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Dow DuPont (NYSE: DWDP) announced on September 1 that Dow Chemical (DOW) and DuPont (DuPont) on August 31 successfully completed the merger. The merged entity is a holding company, titled “Dow DuPont”. According to the market value of the two companies, after the merger Dow DuPont market value of over 150 billion US dollars, more than the original chemical industry’s largest market value of BASF (BASF), a chemical company in the new global boss.
DuPont and Dow’s shares ended on August 31, 2017 at the end of the day (NYSE) on the day of trading day. September 1, Dow DuPont shares will be traded on the New York Stock Exchange, code DWDP. According to the merger agreement, Dow shareholders according to a fixed ratio of 1: 1 Dow stock converted to Dow DuPont stock; DuPont shareholders DuPont shares convertible 1.282 shares of Dow DuPont stock.
After the establishment of the new company will set up double headquarters, located in Michigan and Delaware. After the merger the company will have 16 directors, Dow and DuPont each accounted for eight. Andrew Liveris, Chief Executive Officer and CEO of Dow Chemical, is the former executive chairman of Dow DuPont, and DuPont President and Chief Executive Officer Edward Breen is the CEO of Dow DuPont.
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The two sides said that in the 18 months after the merger, Dow DuPont will be divided into three independent companies, were engaged in agriculture, specialty products and chemical materials. The board of directors of both companies is reviewing the plan to determine that the spin-off portfolio will create the greatest value for shareholders. Dow and DuPont announced the merger for the first time in December 2015.
“The history of our two companies is well known, and today is an important milestone in this history, and we have completed this merger in the transition process and will be further split into three,” said Li Weicheng, executive chairman of Dow DuPont. Industry leading, independent listed companies, we are very excited about this. ”
“The completion of this merger is a decisive step for our shareholders, customers and employees, and we will build a better future based on sustainable growth and innovation,” said Tom Duh, CEO of Dow DuPont. Value, embrace greater opportunities. “The merger transaction is now complete, the next focus is to determine the final organizational structure, as the three plans to split the foundation of a strong company, while focusing on how to play a common optimization effect , Thus releasing the value.
In recent years, large-scale chemical industry restructuring. In June, Chemchina completed the acquisition of seed giant Syngenta, a bayer of Bayer’s acquisition of Monsanto, which is in progress.
DuPont was founded in 1802 and headquartered in Wilmington, Delaware, USA. Its business includes: electronic materials, electronic communications, crop protection and so on.
Dow Chemical was founded in 1897 and headquartered in Midland, Michigan, USA. Its business scope includes: functional products, high-tech materials, basic materials, health and agricultural technology.
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