Deals
Dow-DuPont Merger Delayed Again Amid $1.6 Billion FMC Deal
- Combination of U.S. chemical giants seen closing in August
- Sale of crop-protection assets follows EU antitrust ruling
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Dow Chemical Co. and DuPont Co. pushed back the planned deadline for their combination again as the chemical makers advanced toward winning antitrust clearances by striking a $1.6 billion asset swap with pesticide maker FMC Corp.
The $78.7 billion merger of equals will close in August, Dow and DuPont said in a statement Friday, instead of by the end of the first half. FMC surged the most in eight years after agreeing to buy DuPont crop-protection assets, which the European Union wants sold before final approval of the Dow deal. DuPont will acquire FMC’s health and nutrition business.