Europe approves $120bn Dow-DuPont mega-merger

The European Union’s competition watchdog yesterday approved the mega-merger between Dow Chemical and DuPont, provided that DuPont first sells its pesticides business. The business generated revenues of approximately $1.5bn in 2016 and analysts expect it could fetch $3bn to the new company. The antitrust authorities have already forced Dow to sell its Copolymers and Ionomers business to South Korea’s SK Innovation for $370 million. The new group created by the Dow-DuPont merger of equals will have a market capitalization of $120bn and will be immediately split into three separate companies, which will be then listed.
(Source: WSJ)