The proposed merger of Midland-based Dow Chemical and DuPont has cleared another regulatory hurdle.
Chinese regulators are giving the merger ‘conditional’ approval. The condition is DuPont divest some of its research and development department, along with assets tied to pesticidesand herbicides used in rice.
“This approval continues the progress that the companies have made to secure regulatory clearances around the world for their procompetitive merger, which will drive innovation and competition,” says Dow spokeswoman Rachelle Schikorra in a written statement.
The merger received the go-ahead from European regulators earlier this year.
The $130 billion merger of chemical industry giants still needs to be approved by regulators in the United States, Canada, Australia and Brazil.
Company officials are hoping to complete the merger between August 1st and September 1st of this year.
If all goes as planned, 18 months after the merger is complete, the merged company will split into three more specialized businesses, one of which (Materials Science) will be based in Midland.
