Midland, Michigan — Dow Chemical shareholders and DuPont shareholders approved their boards' recommendation to merge their companies in meetings on 20 July 2016.
The Dow Chemical vote was 825m for and 13m against with 10m abstentions, a majority in favour of the merger of 96%. DuPont shareholders voted 669m for and 8.5m against with 3m abstentions, a majority in favour of the merger of 98%.
The meetings also paved the way for golden parachutes for senior executives at both companies. Dow shareholders voted to approve a non-binding proposal to pay compensation to named Dow executives in connection with the transaction by 796m votes to 56m votes and 24m abstentions. A majority of 90%. DuPont shareholders voted on the same proposal for named DuPont executives approving it by 439m votes to 230m votes and 11m abstentions. A majority of 64%.
These votes enable the companies to start their merger process later this year.