Justice Department Clears Way for Dow-DuPont Merger
16 June 2017 - 7:29AM
Dow Jones News
By Ezequiel Minaya
Dow Chemical Co. and DuPont Co. said Thursday their delayed
merger has won approval from the U.S. Justice Department, clearing
the way for the deal to close without further divestitures.
The deal, initially announced in December 2015, has faced delays
as antitrust regulators sought reams of information concerning the
companies' competing businesses in insecticides, weed killers and
crop seeds.
Dow and DuPont initially expected their deal to close late last
year. The Justice Department approval is the last one required for
the deal in the U.S., after clinching approvals in Europe, Brazil
and China. Dow and DuPont said they are on track to close the deal
in August, consistent with their latest projected time frame.
The Justice Department said it required DuPont to divest its
Finesse herbicide and Rynaxypyr insecticide products while Dow
would have to unload its U.S. acid copolymers and ionomers
business.
Shares of Dow and DuPont rose 1.1% and 0.8% after hours
Thursday, respectively.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
(END) Dow Jones Newswires
June 15, 2017 17:14 ET (21:14 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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