FMC and DuPont have inked a deal that will see FMC pick up the portion of DuPont’s crop protection business the EU says must be divested for the DuPont-Dow merger to go ahead. In exchange DuPont will acquire FMC Health and Nutrition along with $1.2 billion (all figures U.S. funds) in cash. FMC will acquire […] Read more
FMC buying much of DuPont’s crop protection business
Asset sale plan secures EU backing for Dow, DuPont merger
Reuters — Dow Chemical and DuPont won the blessing of the European Union for their US$130 billion merger on Monday by agreeing to sell substantial assets including key research and development activities. The European Commission had been concerned that the merger of two of the biggest and oldest U.S. chemical producers would leave few incentives […] Read more
EU regulators said set to clear Dow, Syngenta deals next week
Brussels | Reuters — EU antitrust regulators are set to clear the US$130 billion Dow Chemical and DuPont merger and ChemChina’s US$43 billion bid for Syngenta next week, people familiar with the matter said Thursday. The European Commission could announce its approvals for both companies at the same time either Monday or Tuesday, the people […] Read more
EU regulators reported set to clear Dow, DuPont deal
Brussels | Reuters — Dow Chemical and DuPont are set to win EU antitrust approval for their US$130 billion merger, two people familiar with the matter said on Wednesday. The deal, which still needs approval from U.S. and other regulators, has faced intense scrutiny from the European Commission. Of particular concern is combining the two […] Read more
Dow’s ledger benefits as economic growth boosts demand
Reuters — Dow Chemical, which is merging with DuPont, reported strong fourth-quarter results and gave an upbeat forecast for the current quarter as its focus on consumer markets benefits from improving economic growth worldwide. The seeds and chemical maker said improving growth in the United States, Latin American and Europe, besides steady Asia growth, would […] Read more
DuPont expects Dow merger to close later than expected
Reuters — Chemicals and seeds producer DuPont indicated on Tuesday that its $130 billion merger with Dow Chemical will take longer to wrap up than previously expected as the companies await regulatory approvals. This is the second time that the two companies, which are in talks with the European Union’s antitrust regulators, have had to […] Read more
Trump win unlikely to impact Dow deal, DuPont CEO says
Boston | Reuters — DuPont CEO Ed Breen said on Thursday the incoming administration of U.S. President-elect Donald Trump is not likely to have an impact on his company’s planned merger with rival Dow Chemical. While Trump was critical of other large mergers during the campaign, Breen said many U.S. Justice Department officials reviewing the […] Read more
ChemChina reported ready for concessions to clinch Syngenta deal
Beijing/Zurich | Reuters — State-owned Chinese chemicals group ChemChina is ready to offer more concessions to win European Union antitrust approval for its US$43 billion bid for Swiss pesticide and seed group Syngenta, a source with direct knowledge of the process said. Clinching China’s biggest-ever foreign acquisition is taking longer than planned amid a flurry […] Read more
DuPont says Dow merger may get delayed
Reuters — DuPont raised its full-year adjusted profit forecast as it cuts costs ahead of its merger with Dow Chemical, but said the deal may not close by the end of this year as planned. Shares of DuPont, which reported a higher-than-expected quarterly profit on lower expenses and higher sales volumes, were marginally lower at […] Read more
Agricultural merger mania fuels fears among small seed sellers
Chicago | Reuters — The U.S. Justice Department is looking into concerns that global consolidation among major seed and agricultural chemical companies may squeeze supplies of the building blocks for widely used genetically modified seeds, a farm group told Reuters. The department has asked the American Soybean Association for details about how small and independent […] Read more
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