Dow Chemical, DuPont announce $130 billion merger plan
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.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
Today's political cartoons - April 23, 2024
Cartoons Tuesday's cartoons - Gen Z remonstrated, plastic recycling, and more
By The Week US Published
-
New York prosecutors lay out case against Trump
Speed Read The former president's first criminal trial started in earnest Monday
By Peter Weber, The Week US Published
-
You Are Here: the new David Nicholls 'past-their-prime' romance
The Week Recommends 'Midlife disenchantment' gives way to romance for two walkers on a cross-country hike
By Adrienne Wyper, The Week UK Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published