DuPont Seeking Buyer for Herbicides – Bloomberg
25 October 2016 DuPont is planning to sell a herbicide business to help ease the approval of its proposed merger with Dow AgroSciences, Bloomberg reported.
According to Bloomberg, which cited anonymous sources, Evercore Partners Inc. has been hired as an adviser for the sale, which is expected to generate several hundred million dollars. DuPont is also considering the disposal of insecticide and seeds units that might be an obstacle to the deal going ahead, the sources said.
Dow and DuPont announced plans to merge in December 2015, and said they would pursue a separation of the combined company — to be named DowDuPont — into three independent, publicly traded companies through tax-free spin-offs.
Since, concerns have emerged that the deal could be derailed after European regulators halted their investigation into whether it violates the bloc’s merger regulations in September. DuPont and Dow, which aim to close the deal in early 2017, had previously offered concessions that regulators said were insufficient.
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