On Friday, the two companies announced that they’re joining forces, with plans to split into three separate, publicly traded companies within 24 months. The $130 billion merger, which is subject to regulatory approval, would be the largest ever in the chemical industry.
The tax-free separation would create a trio of businesses segmented into agriculture, material science and specialty products.
Once the merger has been completed, Deleware-based DuPont’s chairman and chief executive, Edward D. Breen, would become the CEO of the newly named DowDuPont. Andrew N. Liveris, Michigan-based Dow’s chairman and chief executive, would be appointed the DowDuPont Board of Directors’ executive chairman.
In a joint statement, Liveris called the merger a “game-changer” for the chemicals industry and said it “enhances the growth profile” for both Dow and DuPont while “driving value” for their investors and customers: