11:12 | 04/09/2017 Companies
DowDuPont™ announced the successful completion of the merger of equals between The Dow Chemical Company (Dow) and E.l.du Pont de Nemours & Company (DuPont), effective Aug. 31, 2017.
The combined entity is operating as a holding company under the name DowDuPont™ with three divisions – Agriculture, Materials Science and Specialty Products. Company Moves Forward Toward Intended Separation into Industry-Leading, Publicly Traded Companies in Agriculture, Materials Science and Specialty Products. Separations expected to occur within 18 months.
DowDuPont will start trading on the New York Stock Exchange under the stock ticker symbol DWDP. Pursuant to the merger agreement, Dow shareholders received a fixed exchange ratio of 1.00 share of DowDuPont for each Dow share, and DuPont shareholders received a fixed exchange ratio of 1.282 shares of DowDuPont for each DuPont share.
“We are extremely excited to complete this transformational merger and move forward to create three intended industry-leading, independent, publicly traded companies" - said Andrew Liveris, executive chairman of DowDuPont.
“DowDuPont is a launching pad for three intended strong companies that will be better positioned to reinvest in science and innovation, solve our customers’ ever-evolving challenges, and generate long-term returns for our shareholders. With the merger now complete, our focus is on finalizing the organizational structures that will be the foundations of these three intended strong companies and capturing the synergies to unlock value. With clear focus, market visibility and more productive R&D, each intended company will be equipped to compete successfully as an industry leader” - said Ed Breen, chief executive officer of DowDuPont.