Less than two years after agreeing to a merger of equals, writes Michelle Taylor on LaboratoryEquipment.com, Dow Chemical and DuPont have received all regulatory approvals, and are now trading on the New York Stock Exchange as DowDuPont (DWDP), a holding company.
The historic deal that binds the two chemical giants closed on Thursday, Aug. 31, with shares of DWDP trading on Friday, Sept. 1. The new company opened at $66.55 per share, the same as Dow’s closing price on Thursday. DWDP ultimately closed at $66.97 per share on Friday, after hitting a high of $73.33 midday.
But this is not the end of the story. As originally intended, DowDuPont will split into three separate publicly traded companies —agriculture, specialty products and materials — within 18 months.
Some experts thought this day would never come. Surely two chemical companies that each claim a market capitalization of $59 billion a year — thus creating a mega-company worth approximately $130 billion — would trigger anti-trust laws.