Dow Chemical Completes Merger of Equals with DuPont

Cleary Gottlieb represented The Dow Chemical Company as global antitrust counsel in the successful completion of the merger of equals with DuPont, effective August 31, 2017.

DowDuPont  is operating with three divisions: Agriculture, Materials Science and Specialty Products. DowDuPont intends to pursue separation of these divisions into three publicly traded companies within the next 18 months.

This blockbuster deal is among the most complex and challenging international antitrust transactions ever. The transaction required merger clearances in over 20 jurisdictions, including the U.S., EU, China and Brazil. The size of the transaction – one of the largest of all time – meant multiple overlaps had to be investigated and considered in each jurisdiction, particularly given the local nature of agriculture.