DuPont is planning to sell a company-owned herbicide business to reduce potential antitrust concerns to a $59 billion merger with U.S. competitor Dow Chemical Co. The sale is expected to generate several hundred million dollars. Delaware-based DuPont is also considering the disposal of insecticide and seed units that might be an obstacle to the deal moving forward.
A host of competitors, from BASF to FMC and private equity firms, are monitoring opportunities to pick up assets as the biggest-ever wave of consolidation in the agrochemical and seed business spurs antitrust reviews and forced sales. For its part, Dow is selling a unit making copolymers used in food packaging. Dow and DuPont are pushing to complete the merger by the end of this year.
Source: NAFB News Service