MOSCOW (MRC) -- DuPont Co. and Dow Chemical Co. said U.S. regulators last week requested additional information about their pending merger, which will extend the their antitrust review, said The Wall Street Journal.
The pending deal, unveiled in December, will combine two of the oldest companies in the U.S. into a chemical giant called DowDuPont, initially valued at about USD130 billion. The combined company will then split itself into three separately-traded companies focused on agricultural products, material sciences, and specialty products about 18 to 24 months after the merger closes.
In a filing with the U.S. Securities and Exchange Commission on Tuesday, the companies said each of them received a request for additional information from the antitrust division of the Justice Department, potentially extending the merger review by 30 days.
The companies said they had filed a first round of required information regarding the merger plans with the Federal Trade Commission and the Justice Department’s antitrust unit during January.
As MRC informed earlier, DuPont Co. and Dow Chemical dislosed the merger in the late December 2015.
DuPont is an American chemical company that was founded in July, 1802. The company manufactures a wide range of chemical products, leading extensive innovative research in this field. The company is the inventor of many unique plastics and other materials, including neoprene, nylon, Teflon, Kevlar, Mylar, Tyvek, etc. DuPont was the developer and main producer of Freon used in the production of refrigeration equipment.
The Dow Chemical Company is an American multinational chemical corporation. Dow is a large producer of plastics, including polystyrene, polyurethane, polyethylene, polypropylene, and synthetic rubber. In 2014, Dow had annual sales of more than USD58 billion and employed approximately 53,000 people worldwide.
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