DuPont and The Dow Chemical Company have announced July shareholder votes on their merger.
This came after the Securities and Exchange Commission approved the registration statement on Form S-4.
The registration statement was filed in connection with the proposed merger of Dow and DuPont and includes a joint proxy statement of Dow and DuPont and a prospectus of DowDuPont.
The companies also announced that they have each scheduled special meetings of their respective stockholders to seek adoption of the merger. The vote is largely a formality.
- DuPont’s special meeting of stockholders will be held on July 20, at 10 a.m. , at 974 Centre Road, Chestnut Run Plaza Building 730, Wilmington
- Dow’s special meeting of stockholders will be held on July 20, at 10 a.m., at the Employee Development Center, Dow Corporate Center, Midland, Michigan 48674.
Each company’s common stockholders of record as of the close of business on June 2, 2016 are entitled to vote at the respective meeting and will receive the joint proxy statement/prospectus, which will be mailed to shareholders beginning June 10, 2016.
Both Dow’s and DuPont’s boards of directors unanimously recommend that its respective stockholders vote for adoption of the merger agreement and approval of related matters.
The parties continue to expect the transaction to close in the second half of 2016, subject to satisfaction of customary closing conditions, including receipt of shareholder and regulatory approvals. There have been no signs from federal antitrust officials of major objections to the merger.
A coalition of farm and food groups announced their opposition to the merger, citing the consolidation in the seed business.
DuPont and Dow intend that, following the completion of the merger, the combined company will pursue the separation of the combined company’s Agriculture business, Material Science business, and Specialty Products business into three independent, publicly traded companies.
The Agriculture and Specialty Products businesses will be headquartered in Delaware, although the bulk of administrative operations will be elsewhere, according to industry observers.
The subsequent separation into three independent, publicly traded companies is expected to take place, within 18 to 24 months after the merger.
Click on link below for link to proxy statement
