Midland Michigan — The Dow Chemical and DuPont merger into DuPontDow will happen soon after both sets of shareholders vote on the proposal on 7 October 2016, according to a recent 425 filing with the Securities and Exchange Commission in the US.
DuPontDow timetable clarity increases
The firms are "driving to close the transaction,"according to the filing. This is planned to happen in the final quarter of the year, the filing states adding that the companies are running three processes in parallel. These are: preparing to operate the merged company; operating the three business portfolios and capturing synergies before for the expected spin offs.
The new firm expects to capture around $3bn of cost synergies by the end of 2017 and hopes to spin off the companies by the end of 2018. Advisory committees are being developed for the spin offs: DuPont ceo and chairman Edward Breen will be responsible for the establishment, integration and operation of the agriculture and specialty products businesses, while Dow president, chairman and ceo Andrew Liveris will be in charge of materials sciences.
You can keep up to date with all SEC filings Dow makes as the merger progresses on this atom feed. You will need a reader such as Feedly to view this information.