Dow, DuPont in $130 b megamerger

Liveris came under attack a year ago from Loeb, whose Third Point had acquired a 2 percent stake in Dow.

Dow’s directors, including one appointed to the board previous year at the behest of Third Point, are defending the deal and Liveris, calling the timing complaint “ridiculous” and “laughable”. The Dow Chemical Company was the topic in 15 analyst reports since August 20, 2015 according to StockzIntelligence Inc. A Dow representative did not immediately respond to a request for comment. The “deal of three centuries”, as Wells Fargo analyst Frank Mitsch dubbed it, combines two of the biggest and oldest US chemical producers and will generate cost and tax savings. DuPont Chairman and CEO Ed Breen will become CEO of the new company.

“Simply put, we are creating the world’s leading agriculture company by bringing together DuPont’s unrivaled market access and industry-leading germplasm and breeding capabilities, and Dow strengths and traits and crop protection”, said Ed Breen, chairman and chief executive officer of Wilmington, Delaware, U.S.-based DuPont, in a December 11 call with analysts.

Dow shareholders will get one share in DowDuPont per each Dow share, with DuPont shareholders getting 1.282 shares per each of their current shares.

The financial firm has just set a target PPS of $59.00 on The Dow Chemical Company (NYSE:DOW) shares.

Advisory committees will be established for each of the three companies.

Liveris wasted no time in calling his fellow chief executive after Breen was named DuPont’s interim chief in early October. The Firm operates in five divisions: Agricultural Sciences, Consumer Solutions, Infrastructure Solutions, Performance Materials & Chemicals and Performance Plastics.

The breakup is expected to take place 18-24 months after the completion of the deal, which is expected in second-half 2016, subject to regulatory and shareholder clearance.

MIDLAND, MI – Huge changes are in store for Dow Chemical Co.as it merges with DuPont and it could result in “short-term turmoil”, but it will be good for Midland and the Great Lakes Bay Region in the long term. The companies are presently located at DE and MI, and both the areas would also be the headquarters for the new giant.

“You have to deal with different customer bases, different regulation, and different supply chains”, Neil Dhar, partner and United States capital markets leader for PricewaterhouseCoopers LLP, tells The Journal.

Natural gas prices plunged to the lowest level since September 2001 as warm weather continues to erode demand for home heating.

The proposed specialty products business will include DuPont’s nutrition and health, industrial biosciences, safety and protection, as well as electronics, communications and Dow electronic materials business. The full list of directors will be announced prior to or in conjunction with the closing of the merger.