Stockholders of Dow, DuPont approve merger - WNEM TV 5

Stockholders of Dow, DuPont approve merger

Posted: Updated:
MIDLAND, MI (WNEM) -

The shareholders of the Dow Chemical Company and DuPont approved the merger of both companies.

The merger transaction is expected to close in the second half of 2016.

"The overwhelming support of Dow and DuPont stockholders to approve this historic merger transaction is a clear testament to the compelling value proposition and enhanced shareholder value that DowDuPont represents,” said Andrew N. Liveris, Dow’s chairman and chief executive officer. “Today is a pivotal step toward bringing together these two iconic enterprises, and to the subsequent intended separation into three leading, independent technology and innovation-based science companies that will generate significant benefits for all stakeholders.”

The combined company plans to separate the agriculture business, material science business and specialty products business into three independent, publicly traded companies, according to Dow.

That will take place as soon as possible, following the merger.

"We are pleased to receive such strong support from our stockholders, which represents an essential milestone in the combination of our two companies and our intention to subsequently separate into three independent companies," said Ed Breen, chair and CEO of DuPont.

Read the complete press release here.

Copyright 2016 WNEM (Meredith Corporation). All rights reserved.

Powered by Frankly
WNEM
Powered by WorldNow CNN
All content © 2017, WNEM; Saginaw, MI. (A Meredith Corporation Station) . All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.