Dubai PR Network, Online Press Release from Dubai and Middle East
 
Events and Exhibitions(Events & Exhibitions)
Filter PR by
  
Dow and DuPont Announce Amendments to Transaction Merger Agreement
 

UAE, April 03, 2017- DuPont (NYSE: DD) and Dow (NYSE: Dow) today announced several amendments to the companies’ transaction agreement involving the proposed merger of equals and intended subsequent separation into three independent publicly traded companies.

To accommodate the requirements of DuPont’s recently announced transaction with FMC, Dow and DuPont have amended Section 8.1(b)(i) of the merger agreement to extend the “Outside Date” definition to August 31, 2017 with anticipated closing of the transaction no earlier than August 1, 2017, subject to satisfaction of customary closing conditions, including receipt of regulatory approvals.

DuPont’s transaction with FMC is expected to close in the fourth quarter of 2017, subject to the closing of the DuPont and Dow merger, in addition to other customary closing conditions, including regulatory approvals.

Dow and DuPont reiterate both companies’ expectations that the intended spin¬offs will occur within 18 months after closing. In addition, Dow and DuPont now expect that the first spin-off in the intended separation process will be the spin-off of the post-merger Material Science Company.

The companies continue to expect the merger transaction to generate approximately $3 billion of cost synergies and $1 billion of growth synergies.

“This revised agreement was necessary and a very positive outcome driven by the transaction with FMC, announced by DuPont today. It is another significant milestone in our progress to complete this value-creating transaction and the subsequent intended spins as swiftly as possible and without any change to the committed synergies,” said Andrew Liveris, chairman and chief executive officer of Dow.

“Today’s announced transaction enables us to satisfy the European Commission’s approval conditions, while maintaining the strategic logic and value creation potential of our merger and the three independent companies we intend to create,” said Edward D. Breen, chairman and chief executive officer of DuPont.


Posted by : Dubai PR Network Editorial Team
Viewed 3690 times
PR Category : Events & Exhibitions
Posted on : Monday, April 3, 2017  3:13:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Bollywood Superstar Strikers Vs Dubai Dashers XI to clash in...
Next Story : UAE emerging as global education hub amidst influx of region...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Grand Mall Opens the 52nd Outlet in Al Musallah - Sharjah [12682-Views]
LOOTAH Perfumes launches four new springtime fragrances for Him and Her [10333-Views]
Meet the FOREO family as they share their top tips for radiant skin during the holy month [9852-Views]
Amani Glam Collection [8534-Views]
LOOTAH Perfumes launches fragrant oud ‘Ambwood' [8436-Views]
Three Trends to Try with Palladio Beauty [8290-Views]
Experience 5 Seconds to New Skin with OXYGEN-PEEL from Filorga [8204-Views]
Lip Stick to my Heart - GOSH New Collections [7649-Views]
Lexus sweeps two podium finishes at round two of 2018 AUTOBACS SUPER GT 500 series [7302-Views]
Carrera UAE Exhibition [6893-Views]
Max Fashion Reveals Latest 2018 Fashion Trends at Exclusive Trunk Show [6673-Views]
bebe Launches First Ever Ramadan Capsule Collection [6606-Views]
New Master Maserati Driving Courses for 2018 [6545-Views]
Toyota Rush makes a new beginning in the UAE [6515-Views]
Care for your baby's sensitive skin with Corine de Farme [6307-Views]
Spinneys Puts Local Food Heroes in the Spotlight this Ramadan [6161-Views]
‘Tree of Life' Continues to Change Lives at Arabian Center, This Ramadan [5966-Views]
Enhance your natural beauty while staying active with The Body Shop's Sportify Make-up Lin... [5893-Views]
Ethereum - Second In A Series Of Exclusive Cryptocurrency Watches Launched [5880-Views]
Global Light and Power Celebrates 10 Years with the Opening of their New Showroom in Dubai [5838-Views]
Ramadan-Inspired Sandro SS18 Pieces [5783-Views]
Mads Mikkelsen Spotted on Red Carpet at Cannes Wearing Ulysse Nardin Masterpiece [5777-Views]
Dubai Holy Quran Radio launches new special programmes for Ramadan [5630-Views]
Beautiful Kaftans for Ramadan from GUESS [5490-Views]
Celebrate a Traditional Ramadan at the First Swissôtel in Dubai [5484-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories