„Today marks an important milestone in the history of both our companies,“ said Andrew Liveris, Executive Chairman of DowDuPont. „We are very pleased to complete this transformative merger and create three leading independent publicly traded companies. While our collective heritage and strength are impressive, the true value of this merger lies in the planned creation of three industrial power plants that will define their markets and drive growth for the benefit of all stakeholders. Our teams have been working on integration planning for over a year, and starting today, we will begin implementing these plans to complete the separations as soon as possible. To meet the requirements of DuPont`s recently announced transaction with FMC, Dow and DuPont amended Section 8.1(b)(i) of the Merger Agreement to amend the definition of „outside date“ by September 31. August 2017, the expected closing of the transaction is not expected to close until August 1, 2017 at the earliest, subject to the satisfaction of customary closing conditions, including the receipt of regulatory approvals. Merger plans were initially announced in late 2015, followed shortly thereafter by cost-cutting plans. This has led to a number of trade moves to raise competition concerns around the world. At the end of March 2017, it was announced that DuPont had entered into a definitive agreement with FMC Corporation to divest a portion of DuPont`s crop protection business, including certain research and development capabilities, and to acquire substantially all of FMC`s health and nutrition business under a barter agreement. The approval of this decision at the end of July showed that the dowdupont merger was only a few weeks away from its completion. 01 Sep 2017 — Dow Chemical Co. and DuPont Co. completed their $130 billion merger effective August 31, 2017.
The so-called merger of equals, which was completed after more than a year of discussions and regulatory approvals, brings together two giants of the chemical industry to form a new company called DowDuPont. The combined company will operate as a holding company under the name „DowDuPont“ with three business units – Agriculture, Materials Science and Specialty Products. About DowDuPont DowDuPont (NYSE: DWDP) is a holding company consisting of The Dow Chemical Company and DuPont that intends to create strong, independent, publicly traded companies in the agriculture, materials science and specialty products sectors that lead their respective industries through productive, science-based innovations to meet customer needs and help solve challenges. World. For more information, please visit us at www.dow-dupont.com. • Shareholders are expected to benefit from the stronger and more focused investment profile of each proposed company and significant cost synergies, as well as long-term growth and sustainable value creation following the planned separations into three independent companies. The transaction is expected to result in cost synergies of approximately $3 billion and potential growth synergies of approximately $1 billion. The Company expects to achieve a 100% execution rate of cost synergies in the first 24 months following the completion of the merger. • Customers benefit from superior solutions and an expanded product offering. By combining the complementary strengths of Dow and DuPont, any targeted company will be able to respond faster and more effectively to rapidly changing conditions with innovative products and greater choice.
• Employees will benefit from being among those highly targeted and competitive industry leaders focused on sustainable, long-term growth – creating opportunities for our businesses and opportunities for our employees. Effective August 31, 2017, DowDuPont Inc. (f/k/a Diamond-Orion Holdco, Inc.) (the Company) has completed the previously announced merger transaction of equals provided for in the agreement and plan of merger dated December 11, 2015, as amended on March 31, 2017 (the „Merger Agreement“), by and between The Dow Chemical Company (Dow), E. I. du Pont de Nemours and Company (DuPont), the Company, Diamond Merger Sub, Inc. (Diamond Merger Sub) and Orion Merger Sub, Inc. (Orion Merger Sub). Pursuant to the Merger Agreement, (i) Diamond Merger Sub was merged with and into Dow, Dow surviving the merger as a wholly-owned subsidiary of the Company (the Diamond Merger) and (ii) Orion Merger Sub merging with and into DuPont, DuPont surviving the Merger as a subsidiary of the Company (the Orion Merger and, with the Diamond merger, mergers). Upon completion of the mergers, Dow and DuPont each became subsidiaries of the Company.
Regarding the importance of food and nutrition to the newly merged company, a DowDuPont spokesperson told FoodIngredients First that their announcement in March to enter into a definitive agreement with FMC was in part to acquire its Health and Nutrition business. „With this in mind, FMC`s H&N portfolio is highly complementary to DuPont Nutrition & Health`s specialty food ingredient portfolio, which includes textures, cultures and probiotics, emulsifiers, protein and fiber,“ he noted. „The transaction announced today allows us to meet the European Commission`s approval terms while maintaining the strategic logic and value creation potential of our merger and the three independent companies we intend to create,“ said Edward D. Breen, President and Chief Executive Officer of DuPont. The companies continue to expect the merger transaction to generate approximately $3 billion in cost synergies and $1 billion in growth synergies. MIDLAND, Michigan and WILMINGTON, Del. – September 01, 2017 – DowDuPont™ (NYSE: DWDP) today announced the successful completion of the merger of equals between The Dow Chemical Company („Dow“) and E.I. du Pont de Nemours & Company („DuPont“), effective August 31, 2017. The merged company operates as a holding company under the name „DowDuPont™“ with three divisions – Agriculture, Materials Science and Specialty Products. .