Major news – DuPont and Dow Chemical announce merger; a $120 billion giant is born
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This weekend is a special one, as the two largest chemical companies in the United States, DuPont and Dow Chemical, announced on Friday that they had reached an agreement for a merger on equal terms. The resulting company will be named DowDuPont, and it will become the world’s largest chemical company, with a market value of over $120 billion. This is the largest M&A deal in the global chemical industry to date. Under the terms of the deal, each share held by a DuPont shareholder will be exchanged for 1.282 shares of Dow DuPont, while each share held by a Dow shareholder will be exchanged for 1 share of Dow DuPont. The current shareholders of the two companies will each own approximately half of the shares in the merged company. Andrew Liveris, CEO of Dow Chemical, will serve as the chairman of the merged company, while Ed Breen, CEO of DuPont, will be the CEO of the new company. Source: http://finance.sina.com.cn/world/20151211/200623997157.shtml
That’s amazing; China also has something like that, for example China Shenyun, which belongs to the same category:victory:
Dow Corning has also fully returned to Dow; let’s wait and see what else happens.