“We believe we are ready to receive the approval,” Ungerleider said.The acquisition of Dow Corning and the resulting synergies are expected to produce $1 billion in additional annual earnings before certain factors, at full run-rate. Also slated for a June 2019 spin-off, it had sales of $14 billion in 2017 and before-tax earnings of nearly $3 billion. The spin-off of The Chemours Co. 2013. Dan Turner (DuPont Media) 1-302-996-8372. daniel.a.turner@dupont.com. A complex and extended DowDuPont merger transaction timeline introduces risk by raising the potential for disruptive events, including activist agitation. Investor Information Contact Us . Its proposals and arguments match its earlier call for Dow to consider a separation of non-commodity businesses.At that time, the two U.S. industrial and chemical icons described their combination as a $130-billion “merger of equals”, which IHS noted at the time created the industry’s largest deal to date. 2018. The sale of INVISTA. 2011. Dow and DuPont announced in late June that they would engage McKinsey & Co. to assist in reviewing the composition of the three companies they intend to spinoff. 2015. The science of soy. The chemical giants, each with market capitalization of about $60 billion, could announce a merger in coming days, according to sources. “We are happy with the results to date.”The combined company known as DowDuPont was brought up numerous times during the conference call.“I’m not particularly concerned about the rhetoric that’s going on right now,” Liveris replied.He said he plans to engage the next administration on “all things that matter to the company” and pointed out that the United States has put in “very few” trade agreements in the past years.All in all, the merger is on track and Dow is firing on all cylinders to make it happen, Liveris said. The reshuffle of Dow’s and DuPont’s non-agricultural operations would continue the split between specialty chemical and advanced material niches. 2004. While Dow retains the upstream integration with expanded capabilities to bring a full portfolio of advanced materials, increasingly Basics (along with integration to commodity plastics) will likely be commanded by integrated oil companies, state-owned enterprises, emerging players in Asia and the Middle East, and a few remaining regional players in the U.S. and Europe.Activist investors drive companies to seek outside counsel on proposed spin-offs.Witt and Westervelt conclude that this may well be the natural evolution of an industry that has seen giants such as Hoechst, Union Carbide, ICI, and others disappear during the past 20 years, but we are truly witnessing a tectonic change and a continued evolution of the global chemical industry.● At the time of the merger announcement, the companies said in a joint statement on December 11, 2015, they intended to subsequently pursue a separation of DowDuPont into three independent, publicly-traded companies through tax-free spin-offs. The emphasis here is on innovation, market knowledge and close customer relationships. Dow is expecting $410 to $460 million in costs related to asset impairments, severance and other costs related to this announcement through the second half of 2016.Sadara is located in Jubail Industrial City, Saudi Arabia, and is anticipated to produce more than three million tons of products every year.“We are working pedal to the medal to get those metrics in place, the milestones in place, the board reviews,” Liveris said.Ungerleider touched on the share buyback program currently being synchronized between Dow and DuPont.‘SEAMLESS’ INTEGRATION OF DOW CORNINGDuring the question-and-answer session of the conference call, Liveris was asked if he was concerned about the impact of the presidential election on trade.The share buyback program is just one step in the process.
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