Dow Chemical and DuPont on Friday announced the successful completion of their merger to form DowDuPont. The $130 billion deal follows almost two years of discussion and a complex regulatory approval process.
Dow and DuPont announced the merger in December 2015.
"While our collective heritage and strength are impressive, the true value of this merger lies in the intended creation of three industry powerhouses that will define their markets and drive growth for the benefit of all stakeholders," Andrew Liveris, executive chairman of DowDuPont, said in a statement on Friday.
"Our teams have been working for more than a year on integration planning, and — as of today — we will hit the ground running on executing those plans with an intention to complete the separations as quickly as possible."
Dow Chemical and DuPont are leading players in the agrochemicals market. Analysts forecast the global agrochemicals market to grow at a CAGR of 3.47% during the period 2017-2021. Huge investments are being made for the development of new varieties of herbicides that are more effective and eco-friendly.
Shares of DuPont and Dow will now trade on the New York Stock Exchange under the ticker symbol "DWDP." The two companies are expected to break up into three independent units - an agricultural products manufacturer, a materials science company and a specialty components maker.
The new company will begin trading Friday under the stock symbol DWDP.
Dow Chemical CEO Andrew Liveris has been named executive chairman and DuPont CEO Ed Breen has become CEO of DowDuPont.
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