DowDuPont Merger Gains Shareholder Blessing

By Jim Steadman|July 26, 2016

DuPont and The Dow Chemical Company announced that stockholders of both companies have voted to approve all proposals necessary to complete the merger of the two companies.

Both companies expect the merger transaction to close in the second half of 2016, subject to customary closing conditions and regulatory approvals.

“The overwhelming support of Dow and DuPont stockholders to approve this historic merger transaction is a clear testament to the compelling value proposition and enhanced shareholder value that DowDuPont represents,” said Andrew N. Liveris, Dow chairman and chief executive officer.

Ed Breen, chair and chief executive officer of DuPont, called the votes, “an essential milestone in the combination of our two companies and our intention to subsequently separate into three independent companies. We are now focused on important next steps toward completing the merger transaction, including working with regulators in the appropriate jurisdictions. We are confident that this merger will create long-term, sustainable value for stockholders and superior solutions and choices for customers.”

Following the merger, the combined company will begin work to separate its Agriculture, Material Science and Specialty Products businesses into three independent, publicly-traded companies, subject to board and regulatory approvals. That process is not expected to exceed 18-24 months after the merger closing.