DThe gigantic Dow Chemical-DuPont merger is experiencing some serious antitrust pushback in Europe and some Washington insiders feel it could get blocked, The Post has learned.
The two companies met last week with European Union regulators to detail their views as to why the deal should get approved.
A similar effort last year failed to resolve EU concerns. A decision is expected next month.
“I wouldn’t be surprised if it got blocked,” said one Washington source close to the situation, but not working on the deal, while a source close to the parties said he was “cautiously optimistic.”
A merger of Dow, with a $65 billion market cap, and DuPont, worth $64 billion, would create a new entity called DowDuPont, the world’s largest chemical company.
If the companies offer concessions — like selling of assets — they would need to do so by late January, the source said.
The biggest concern of the EU is that the new entity will spend less on crop-protection research and thus reduce global yields, sources said.
The merger, which will reorder and concentrate power in the biotech seed industry, has been the subject of intense scrutiny in the US, as well. At least 10 states and the Justice Department are weighing the deal.
Full Content: New York Post
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.