DowDuPont
| Traded as | : DWDP DJIA Component S&P 100 Component S&P 500 Component |
|---|---|
| Industry | Chemicals |
| Predecessors | Dow Chemical, DuPont |
| Founded | September 1, 2017 |
| Headquarters | Midland, Michigan and Wilmington, Delaware, US |
|
Area served
|
Global |
|
Key people
|
Andrew Liveris, Chairman Edward Breen, CEO |
| Website | www |
DowDuPont is a company formed after the merger of Dow Chemical and DuPont on August 31, 2017. Within 18 months the company will be split into three publicly-traded companies: agriculture, materials science, and specialty products. The organization's board will be headed by Andrew Liveris with Edward Breen becoming CEO of the new company. The merger has been reported to be worth an estimated $130 billion.
On December 11, 2015, DuPont announced a merger with Dow Chemical Company, in an transaction. The combined company, DowDuPont, will have an estimated value of $130 billion, being equally held by both companies’ shareholders, while also maintaining its two headquarters. The merger of the two largest U.S. chemical companies closed on August 31, 2017.
Following the merger, both companies' boards of directors decided that DowDuPont will pursue a separation into three independent, publically traded companies: an agriculture, a materials science, and a specialty products company. The agriculture business will unite Dow and DuPont’s seed and crop protection unit, with an approximate revenue of $16 billion. The materials science segment will consist of DuPont’s Performance Materials unit, together with Dow’s Performance Plastics, Materials and Chemicals, Infrastructure and Consumer Solutions, but exclude DOW's Electronic Materials business. Combined revenue for this branch totals an estimated $51 billion. Finally, the specialty products unit will include DuPont’s Nutrition & Health, Industrial Biosciences, Safety & Protection and Electronics & Communications, as well as Dow’s aforementioned Electronic Materials business. Combined revenue for Specialty Products will total approximately $12 billion.
Advisory Committees are established for each of the businesses. DuPont CEO Ed Breeen will lead the Agriculture and Specialty Products Committees, and Dow CEO Andrew Liveris will lead the Materials Science Committee. These Committees are intended to oversee their respective businesses, and will work with both CEOs on the scheduled separation of the businesses’ standalone entities.
The European Commission opened a probe to assess whether the proposed merger was in line with the EU’s respective regulations. The Commission investigated whether the deal reduced competition in areas such as crop protection, seeds and petrochemicals. The closing date for the merger was repeatedly delayed due to these regulatory inquiries.
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Wikipedia