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European Union Approves Merger Of Dow Chemical, DuPont

Promo Image: European Union Approves Merger Of Dow Chemical, DuPont

The European Union has approved the proposed merger of Midland based Dow Chemical and DuPont this morning.

The E.U. says the companies’ commitments to divest business have addressed its concerns.

Both plan to join in a $62 billion deal and then break apart into three separate, publicly traded companies.

The companies would focus on agriculture, material science and the production and sale of specialty products.   

The E.U. antitrust chief says the approval ensures that the merger does not reduce price competition for existing pesticides or innovation for safer and better products in the future.

The E.U. says they will sell DuPont pesticide businesses and nearly the entirety of DuPont’s global R&D organization.