DuPont to sell parts of pesticide business to clear path for Dow merger
Washington — US chemical giant DuPont said on Friday that it will sell off some of its pesticide business in exchange for FMC’s health and nutrition business as a step towards clearing regulatory hurdles to its merger with Dow Chemical. The deal follows Monday’s approval by EU competition authorities for the $130bn mega-merger, which requires DuPont to sell "major parts" of its global pesticides business. But it still needs approval of US and Chinese authorities. "The divestiture will satisfy DuPont’s commitments to the European Commission in connection with its conditional regulatory clearance of the merger with Dow," DuPont said in a statement. Dow and DuPont, two of the oldest US companies, announced the merger to create the world’s biggest chemicals and materials group in December 2015. The companies said the merger is now set to close by the end of August. Dow and DuPont are dominant players for a huge range of chemical products, but the manufacturing of pesticides and fertilis...
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