Industry research body, IHS, has said the proposed merger of Dow Chemical and DuPont would be the industry’s largest deal to date, with the potential $130 billion deal dwarfing AzkoNobel’s 2008 acquisition of ICI for $17 billion.
According to IHS, the combined company will be named DowDuPont and be dual-headquartered in Midland, MI and Wilmington, DE.
Upon completion of the DowDuPont transaction, Dow chairman and CEO Andrew Liveris will become executive chairman of the DowDuPont board, and Edward Breen, chairman and CEO of DuPont, will become CEO of DowDuPont. In these roles, both Liveris and Breen will report to the board.
Separately, Dow has also announced that it will become the 100 per cent owner of Dow Corning, which is currently a 50-50 joint venture with Corning. Dow and Corning will maintain their current equity stake in Hemlock Semiconductor Group, Dow says.
