São Paulo - Dow Chemical and DuPont announced on Wednesday, 20, in their respective meetings with shareholders held today, investors of both companies have approved all proposals necessary to complete the merger between them.
The companies expect the transaction to be completed this fall, still subject to customary conditions, including receipt of regulatory approvals.
The merger between the US companies was announced on 11 December last year. The operation creates DowDuPont, a giant group in the chemical industry worth US $ 130 billion.
After that, the two companies should dismember DowDuPont into three independent companies: a farm, other materials and a third special products.
"The overwhelming support of Dow and DuPont shareholders to approve this historic transaction is a clear testimony of the value proposition that DowDuPont is," he said in a statement, Andrew N. Liveris, chairman and CEO of Dow.
Ed Breen, Chairman and CEO of DuPont, added: "We are now focused on the next steps to complete the merger, including working with regulators in the appropriate jurisdictions."
Notice of the companies said that the subsequent separation into three independent publicly traded companies should be finished as soon as possible and should not exceed a period of 18 to 24 months after the closing of the merger.
Source: Dow Jones Newswires.
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