Dow Chemical (DOW.N) and DuPont (DD.N) gained conditional European Union antitrust approval on Monday for their $130 billion merger by agreeing to significant asset sales, one of a trio of mega mergers that will redraw the agrochemicals industry.
It said the asset sales would ensure competition in the sector and benefit European farmers and consumers.
Dow and DuPont have agreed to divest a significant part of DuPont's existing pesticide business, including its R.&D. organization, in particular DuPont's herbicides in cereals, oilseed rape, sunflower, rice and pasture and insecticides for chewing insect and sucking insect control for fruits and vegetables. There was "specific evidence" that Dow and DuPont would have cut back on the amount they spent on developing innovative products, the European Commission said in an emailed statement.
The merger will initially create a business worth an estimated $130bn, but the intention is to split the company into three independent, publicly traded companies.
An in-depth review was launched past year amid concerns that it could have reduced competition in both the pesticides and petrochemicals market across the European Economic Area (EEA), and had the potential to stifle innovation between companies in the pest control industry.
The EC's approval is dependent on DuPont and Dow selling off some parts of their businesses to satisfy competition concerns.
Dow and DuPont were expecting the merger to be approved last fall, but asked for an extension in September.
Stockholders approved the merger in July 2016.
The merger is expected to achieve cost savings of US$3bn.
The takeover, announced a year ago, is the first to win European Union approval out of a trio of mega-deals that would reshape the global agrochemicals industry.
Both companies had privately detailed to European regulators concessions they would be willing to make in August 2016, but Vestager raised concerns a year ago about whether the divestitures would be acceptable. In late January, DuPont CEO Ed Breen said the merger would be completed by the second half of 2017.
DOW stock and DD stock were both up slightly as of noon Monday, with DOW stock being up 11% year-to-date and DD stock being up 9% year-to-date. Arnold said the lack of a big stock gain is a reflection of a market that is down, overall, in early morning trading.
"They are both still modestly out performing the market today", he said.
I thought he did a pretty good job last week (in Ranchi) when he was out on the field in Virat's absence. The stage is really set now for a fantastic fourth test match and the guys are really excited by that".
As NPR has reported , multiple waves of bomb threats targeted Jewish community centers across America over the past three months. It's unclear how numerous threats today's arrestee was responsible for, but investigators are treating him as a central suspect .
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Gonzaga only shot 37.5 percent (9-24) in the 1st half , but Johnathan Williams was a ideal 4-for-4 and scored 11 points. By the time it was over, the Mountaineers led by three points despite shooting below 30 percent from the field.
Planet or not, Pluto is one of the farthest entities of this solar system and is known to have a frigid solid surface. Six authors from five institutions were involved in the work: Kirby Runyon of Johns Hopkins University, S.
But Chief Justice Chellur was of the opinion that the resident doctors can not put the public at large in trouble. But doctors refused to budge till some of their demands in terms of security were implemented immediately.
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It seems Gomez has had a limitless imagination since she was little, saying The Wizard of Oz was her favorite film growing up. And though Gomez didn't get too deep in her new interview , she revealed a lot of her personality in the new video.
Tom even had a few words for head judge Len Goodman: "We've got you all season, none of this flying back to London?" asked Tom. Some are crying it's an unfair advantage for the 30-year-old Glee actress because she is a professional dancer.
A prosecutor, Matthew Derbes, asked Few if he regrets not stopping his auto when he saw the blue lights from an officer's vehicle. Few and his son were struck by multiple gunshots fired by the deputy city marshals". "I felt I had no choice but to save Norris".
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Luke Maye recorded his first career double-double with 16 points and 12 rebounds, helping fuel a quick start for Carolina (30-7). Heading into Saturday, 42 schools had made it to the Final Four at least once since the tournament expanded to 64 teams in 1985.
The sanctions target firms that provide arms and equipment to Israel "for use against the Palestinians", IRNA reported. Congress passes a bill which would designate Iran's Revolutionary Guards Corps as a terrorist organization.
Fisher has the reasonable consolation of a move inside the world top 50 and a Masters invite that will arrive as a effect . Until getting steamrolled by Rahm, the 62nd-ranked Kjeldsen had been one of the biggest surprises this week.
Ohio's rate was a bit higher than the national rate, which dropped from 4.8 percent in January to 4.7 percent last month. Data from the Bureau of Labor Statistics shows that Iowa now has a seasonally adjusted unemployment rate of 3.2 percent.
The Bournemouth East MP covers deals with the Middle East, Africa and counter terrorism as part of his Foreign Office brief. His brother, Jon, died in the Bali terror attack in October 2002, which killed 202 people, including 27 Britons.
The company may have released " Fire Emblem Heroes " in February as a freemium game, but that might actually just be a one-off. The company confirmed in a January earnings report that mobile-bound Animal Crossing will be coming in the next fiscal year.
Newly released dashcam video shows the moment a patrol auto ran over a wanted woman who was involved in a shootout with police. Check out the insane footage below thanks to LiveLeak , but heads up: this might be tough to watch for some folks.
The US firm generates over £6bn in revenue from the United Kingdom market annually - the majority of that coming from advertising. The companies argued that their messages were being played before content that was filled with anti-Semitic and homophobic views.