The Irish Times

DuPont and Dow agree ¤118bn merger


Chemical titans DuPont and Dow Chemical Co have agreed to combine in an all-stock merger valued at $130 billion (¤118bn), a move that could trigger more consolidat­ion, please activist investors and generate tax savings while drawing scrutiny from regulators.

The “deal of three centuries,” as Wells Fargo analyst Frank Mitsch dubbed it, will combine two of the biggest and oldest US chemical producers in a prelude to a split into three publicly-traded businesses focusing on agricultur­e, materials and speciality products. Dow and DuPont shares fell yesterday after soaring this week following reports of the talks.

The deal, announced yesterday, will face intense regulatory scrutiny, analysts said, especially over combining their agricultur­al businesses which sell seeds and crop-protection chemicals. – (Reuters)

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