Dow Chemical forecast better-than-expected revenue for the current quarter and said it would expand four key consumer businesses, which will be part of a new firm created after its proposed merger with DuPont.
Dow and DuPont plan to merge and then break up into three independent publicly traded companies, with the first spinoff being called “Material Science”.
Dow will expand in the packaging, infrastructure, transportation and consumer care markets, Chief Executive Officer Andrew Liveris said on a post-earning call on Thursday, adding that 90 percent of the Material Science company’s revenue would be “aligned” to these end-markets.
DuPont said on Tuesday it expected its deal with Dow to close in August, after repeated delays due to strict regulatory scrutiny.
The merger was approved by EU antitrust regulators last month on the condition the companies divest assets and research and development facilities.
Regulators in the United States, Brazil, China, Australia and Canada are yet to clear the deal.
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
FCC Votes to Restore Net Neutrality Rules
Apr 25, 2024 by
nhoch@pymnts.com
Apple Rejects Spotify’s Updated App Over In-App Pricing Disclosure
Apr 25, 2024 by
CPI
FCC Set to Reinstate Net Neutrality Rules Today
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI