28 Jul 2017 --- The completion of the upcoming merger of Dow and DuPont is edging closer as the European Commission has cleared the path ahead in terms of the divestments needed to satisfy regulators. The Commission has conditionally cleared both FMC's acquisition of parts of DuPont's crop protection business and DuPont's acquisition of FMC's Health and Nutrition business – both transactions are related to the Dow/DuPont merger divestment commitments.
And at the same time, Dow Chemicals has reported its second quarter results showing that sales are up to US$13.8 billion, an increase of 16 percent from the second quarter of 2016.
Earnings per share are at US$1.07 and US$1.08 operating earning per share, while sales rose 8 percent, excluding the addition of Dow Corning’s silicones business, with increases in all operating segments and all geographic areas.
As Dow and DuPont advanced their proposed merger transaction, both companies reaffirmed the expectation to close the deal in August, at the same time as achieving this conditional clearance in key European jurisdictions.
Andrew Liveris, Dow’s chairman and chief executive officer, explained how this quarter has extended Dow’s track record of achieving nearly five years – 19 consecutive quarters – of year-over-year operating earnings growth and nearly four years – 15 consecutive quarters – of volume growth.
“Just as importantly, we ended the quarter on the cusp of delivering the most comprehensive slate of growth investments in our industry – across the US Gulf Coast, at our Sadara joint venture and through the ongoing integration of our silicones platform,” he says.
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