DuPont and The Dow Chemical Company said they are willing to divest businesses units in order to appease European Union regulators who remain skeptical of the $130 billion merger.
In a statement issued Wednesday morning, the companies offered to sell part of DuPont’s crop protection business, along with its associated research and development, and Dow Chemical’s acid copolymers and ionomers business.
The offer, which was made in a submission to the European Union’s antitrust regulator authority, known as the European Commission, has extended the merger’s deadline review until April 4.
“Dow and DuPont continue to engage constructively with the European Commission and other regulators in all relevant jurisdictions to obtain clearance for the merger, which we are confident will be achieved,” said DuPont spokesman Dan Turner in a statement. “As part of this process, we have submitted a remedy package to the European Commission that maintains the strategic logic and value creation potential of the transaction for all stakeholders.”
Full Content: The Wall Street Journal
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