Dow and DuPont complete $130bn merger
Dow and DuPont have completed their $130bn merger, forming DowDuPont.
The deal, which was originally agreed back in 2015, was finalised on Friday, with the new company set to function under the ticker symbol “DWDP” on the New York Stock Exchange.
Three core divisions will make up the operation; Agriculture, Materials Science and Specialty Products.
“Today marks a significant milestone in the storied histories of our two companies,” said Andrew Liveris, executive chairman of DowDuPont.
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“We are extremely excited to complete this transformational merger and move forward to create three intended industry-leading, independent, publicly traded companies.
“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.
“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 had revealed leadership changes on Thursday ahead of the announcement, with Reiner Roghmann taking on the vice president of operations for North America, North role and Rich Wells becoming VP of operations for the U.S. Gulf Coast and Texas.