Commercial Products | Midland, MI | Merger of Equals
DuPont (NYSE: DD) confirmed with its latest earnings report that, although it has "made excellent progress" on its $72 billion merger with Dow Chemical (NYSE: DOW), addressing the lingering antitrust concerns in China, Brazil, the US and elsewhere will keep the deal from closing until sometime next quarter. At that point, the combined company, DowDuPont, will split into three publicly traded units: agriculture, material science and specialty products. In addition, both companies have planned divestitures designed to ease regulatory scrutiny that are also slowing progress on the tie-up. However, the new timeframe still fits squarely in the 18-24 month window the companies had originally announced. DuPont's shares closed up 4.5% on the news at $76.05 apiece, with Dow also ending the trading day up roughly 4.5% at $59.64 per share.