Deals
DuPont CEO Gives Investors Confidence Dow Deal Is on Track
- Ed Breen says concerns over crop innovation can be addressed
- Company’s updated timetable puts merger’s close by end of June
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DuPont Co. said it can address antitrust regulators’ concerns that its $72 billion merger with Dow Chemical Co. could limit discovery of new agricultural pesticides, boosting confidence that the deal will be approved. Shares of both companies rose the most in almost a year.
Regulators are mostly concerned that the combination could hurt innovation in crop-protection chemicals, DuPont Chief Executive Officer Ed Breen said Tuesday on a conference call to discuss fourth-quarter results. The remedy will involve products as well as related research and development resources. He didn’t provide specifics, but the process could involve selling assets.