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Dow, DuPont announce merger; new DowDuPont to have $130 billion market cap

HOUSTON, December 11, 2015 (PCW) -- DuPont and Dow Chemical announced Friday they will merge and be renamed DowDuPont.

The new company will be spun off into three independent publicly traded firms within 18 to 24 months of the deal's closing.

The three companies will be a global pure-play agriculture firm, material science company and a technology and innovation-driven Specialty Products company.

The ag business will comprise DuPont’s and Dow’s seed and crop protection businesses. The material science firm will consist of DuPont’s Performance Materials segment and Dow’s Performance Plastics, Performance Materials and Chemicals, Infrastructure Solutions, and Consumer Solutions. Finally, the specialty products company will include DuPont’s Nutrition & Health, Industrial Biosciences, Safety & Protection and Electronics & Communications and Dow's Electronic Materials business.

The combined company will have a market cap of about $130 billion. The deal is expected to deliver approximately $3 billion in cost synergies, with 100% of the run-rate cost synergies achieved within the first 24 months, the companies said. Additional upside of approximately $1 billion is expected from growth synergies.

Dow’s chairman and CEO Andrew Liveris will become the new firm’s executive chairman. Edward Breen, DuPont’s new CEO, will become the merged firm’s CEO.

Following the closing of the transaction, DowDuPont will be dual headquartered in Midland, Michigan and Wilmington, Delaware. – Samantha Hartke

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