Sector News

European regulators clear Dow Chemical-DuPont merger

March 27, 2017
Energy & Chemical Value Chain

The European Union has approved the proposed merger of Dow Chemical and Du Pont, saying that the companies’ commitments to divest businesses have addressed its concerns.

Both plan to join in a $62 billion deal and then break apart into three separate, publicly traded companies. The companies would focus on agriculture, material science, and the production and sale of specialty products.

EU antitrust chief Margrethe Vestager said Monday that the bloc’s conditional approval ensures that the merger “does not reduce price competition for existing pesticides or innovation for safer and better products in the future.”

Dow and DuPont said in February they were willing to divest more business to address concerns. The EU says they will sell DuPont pesticide businesses and “almost the entirety of DuPont’s global R&D organization.”

Source: Associated Press via CNBC

comments closed

Related News

March 24, 2024

Thomas Gangl leaves Borealis

Energy & Chemical Value Chain

Appointed Borealis CEO in 2021, Thomas has led key initiatives including the sale of the nitrogen business, acquisitions of Rialti Spa and Integra Plastics AD, and Borouge’s IPO. He also made the final investment decision for the Borouge 4 plant, set to be the world’s largest polyolefin complex.

March 24, 2024

Chemours names Dignam permanent CEO

Energy & Chemical Value Chain

The Chemours Co. today named interim CEO Denise Dignam as the company’s permanent CEO and president, as well as a member of the board of directors, effective immediately. Dignam has been interim CEO since late February, when former CEO Mark Newman was placed on leave due to an internal investigation.

March 24, 2024

Neste merges three business lines into new Renewable Products unit

Energy & Chemical Value Chain

Neste Corp. (Espoo, Finland) has completed its organizational change process, announced on 1 November 2023. Neste informed that it will merge its three renewable business units into one Renewable Products business unit as well as restructure its functions to better support business-driven ways of working.

How can we help you?

We're easy to reach