Dupont & Dow Chemical Shareholders Approve Merger


Shareholders of Dupont and Dow Chemical have approved the merger of the two companies in an all stock deal valued at about $62-billion.

It comes as both companies attempt to find ways to revitalize their businesses following declines in agricultural performance and increasing pressure by activist shareholders to control spending and shift away from commodities to faster-growing parts of their businesses.

The merger which is expected to be completed by the end of 2016 now needs to be approved by regulators.

If approved, the companies have indicated that within 2 years of the merger, they intend to split into three separate publicly traded companies.

One company will focus on agriculture, one on material science, and one will make and sell specialty products.