Deals
Dow, DuPont Asset Shedding Said to Kick Off With Copolymer Sale
- Adviser hired to sell Dow’s ethylene acrylic acid division
- DuPont also reviewing businesses to gain approval for merger
This article is for subscribers only.
Dow Chemical Co. is seeking a buyer for a unit that makes copolymers used in food packaging in what will be the first disposal of many needed to gain antitrust approval for its $59 billion merger with U.S. chemicals maker DuPont Co., according to people with knowledge of the situation.
The company has hired a financial adviser to manage the sale of the business, which generates about $150 million in annual revenue supplying ethylene acrylic acid copolymers, said the people, who asked not to be identified because details of the process are private. Wilmington, Delaware-based DuPont is also drawing up a list of potential disposals, said the people.