Dow and DuPont confirm merger plan
11 December 2015
- From the section Business
US chemical giants Dow Chemical and DuPont have announced a plan to merge, in a deal valuing them at $130bn (£86bn).
The all-share deal will eventually lead to the merged company, initially to be called DowDuPont, being split in three.
The three companies would focus on agriculture, materials and speciality products.
If the merger is cleared by regulators, the new company will be owned equally by current Dow and DuPont shareholders.
The companies aim to achieve the split into three within two years of the completion of the merger.
They hope to save $3bn through cost-cutting during that period.
At the same time, DuPont announced a cost-saving plan that will involve cutting about 10% of staff.
This post was written by FSB News