MIDLAND, Mich.—The Dow Chemical and DuPont merger into DowDuPont Inc. will be complete once both sets of shareholders vote on the proposal on Oct. 7, according to a recent 425 filing with the Securities and Exchange Commission.
The firms are “driving to close the transaction” in the final quarter of the year, according to the filing, which also notes that the companies are preparing to operate the merged company; operating the three business portfolios; and capturing synergies before for the expected spinoffs.
The new firm expects to capture around $3 billion of cost synergies by the end of 2017 and hopes to spin off the companies by the end of 2018.
Advisory committees are being developed for the spinoffs, and they include DuPont CEO and Chairman Edward Breen, who will be responsible for the establishment, integration and operation of the agriculture and specialty products businesses. Dow President, Chairman and CEO Andrew Liveris will be in charge of materials sciences.