DuPont and Dow approved for merger

DuPont and Dow have received all the necessary regulatory approvals and clearances, and have satisfied all the conditions to the closing of their merger of equals.

The merged company will be called DowDuPont, and the date for the official merger has been set as September 1st, 2017.

Shares of Dow and DuPont will cease trading at the close of the New York Stock Exchange (NYSE) on August 31st.

Shares of DowDuPont will begin trading on the NYSE under the stock ticker symbol ‘DWDP’ on September 1, 2017.

The companies expect the transaction to result in cost synergies of approximately US$3bn, which are projected to create approximately US$30bn of market value.

Andrew N. Liveris will be Executive Chairman and Edward D. Breen will be CEO of combined company.

Dow and DuPont shareholders will each own approximately 50% of the combined company, on a fully diluted basis, excluding preferred shares.