Michigan AG not ready to talk about possible anti-trust probe of Dow-DuPont merger
Michigan Attorney General Bill Schuette is tight-lipped about whether his office will join a federal anti-trust probe into the proposed merger of DuPont and Midland-Based Dow Chemical.
Reuters is reporting that seven state attorneys general, including California’s, have signed on to a federal anti-trust probe into the multi-billion-dollar deal to merge the two giant chemical companies. The plan is for the company to break up into three smaller units, each focusing on one aspect of the chemical industry.
Concerns have been raised that the merged company may increase the price of pesticides and herbicides. Some have also raised concerns about a broader consolidation in the industry that may hurt farmers.
Michigan Attorney General Bill Schuette is tight-lipped about Michigan’s interest in getting involved in the anti-trust probe.
“We always review legal issues thoroughly and that’s just one of many on my plate … that’s all I can say at this point,” says Schuette.
Dow and DuPont officials had hoped to complete their merger this year, but European regulators have said their review would take until early next year.
The EU review was actually on hold until today, when Dow and DuPont provided European regulators with additional information.