Early Friday, Dow Chemical Co. and DuPoint Co. — two of the oldest companies in the U.S. — announced plans to merge, creating a company valued at about $130 billion. The company, to be called DowDuPont, would then be split into three companies, respectively focused on agricultural products (pesticides and seed), material science (plastics), and specialty products. The merger is being sold as a partnership of equals, with shareholders of each chemical giant holding 50 percent of the shares of the combined company.
Dow CEO Andrew Liveris will be executive chairman, while DuPoint CEO Edward Preen, a turnaround specialist who took the company's helm just months ago, will be chief executive. Regulators and each company's board have to approve the merger, and if they do, the companies say the deal will be completed by the second half of 2016. The proposed merger is one of the largest in what's already a record-breaking year for takeovers.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Rep. Sylvester Turner dies, weeks after joining HouseSpeed Read The former Houston mayor and longtime state legislator left behind a final message for Trump: 'Don't mess with Medicaid'
-
Trump pauses Ukraine intelligence sharingSpeed Read The decision is intended to pressure Ukrainian President Volodymyr Zelenskyy into peace negotiations with Vladimir Putin
-
Supreme Court rules against Trump on aid freezeSpeed Read The court rejected the president's request to freeze nearly $2 billion in payments for foreign humanitarian work
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
-
Chinese AI chatbot's rise slams US tech stocksSpeed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
-
Getty Images and Shutterstock merge into a picture powerhouse to combat AIThe Explainer The $3.7 billion deal is one of the largest in the industry's history
-
US port strike averted with tentative labor dealSpeed Read The strike could have shut down major ports from Texas to Maine
-
Biden expected to block Japanese bid for US SteelSpeed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
-
Judges block $25B Kroger-Albertsons mergerSpeed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
-
Rupert Murdoch loses 'Succession' court battleSpeed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
