DuPont says it needs an additional three months to complete merger activities with Dow. Regulators around the world are continuing to look over the deal that would combine the two U.S. chemical companies. A DuPont statement this week says they expect the deal to close by end of June after setting March as the initially anticipated closing date. DuPont CEO Ed Breen told investors and analysts during a recent conference call that he feels the deal is in its “second quarter.” Dow and DuPont are working to alleviate concerns about the $71 billion-dollar deal creating a chemical giant. European Union officials have openly expressed concerns about the deal slowing the discovery of new pesticides. The EU recently granted a 10-day extension on Monday.
The companies had requested the extension to fine-tune a package of concessions designed to ease concerns about the deal. DuPont says it expects net income to be down for the first quarter of this year, partly due to a 15 cents per share expense related to the merger.
Source: NAFB News Service