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DuPont says U.S. Regulator Needs Additional Time to Review Dow Merger

Submitted by Food Democracy Now on March 3, 2016 - 5:44pm

DuPont said on Wednesday that U.S. regulators need more time to review materials related to its merger with Dow Chemical, according to a filing. 

DuPont said that the antitrust division of the U.S. Department of Justice notified both companies last week that it needs additional information and materials to assess the merger, a move that extends the review period.

The filing with the U.S. Securities and Exchange Commission said that the request would extend the waiting period another 30 days, but it was unclear from the filing what the end date of the review would be.

DuPont said that the request for additional information was expected by both companies and they will continue to work with the Department of Justice. 

The two chemical companies agreed to combine in an all-stock merger in December, valued at $130 billion at the time, in a first step towards breaking up into three separate businesses. 

(Reporting by Michael Flaherty; Editing by Frances Kerry)

Originally Published: Reuters

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