Canada allows Dow, Dupont merger after firms agree to sell assets
Reuters
Published Jun 27, 2017 07:40PM ET
Canada allows Dow, Dupont merger after firms agree to sell assets
OTTAWA (Reuters) - Canada's Competition Bureau said on Tuesday it would allow a planned merger between DuPont (N:DD) and Dow Chemical Co (N:DOW) after both firms agreed to dispose of some assets.
The announcement is similar to those made by U.S. and European Union regulators, who also allowed the merger to go ahead as long as the firms made divestitures they already have outlined.
"The agreement reached today ensures that consumers and businesses continue to benefit from a dynamic marketplace," competition commissioner John Pecman said in a statement.
DuPont will sell a significant part of its global herbicides business and research and development branch to FMC Corp (N:FMC). Dow will sell its global business of certain specialized plastics products to SK Global Chemical Corp[SKENGC.UL], the Competition Bureau said in a statement.
The bureau said the asset sales were needed to prevent a substantial lessening of competition in the supply and development of some crop protection products and specialized packaging plastics.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.