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$DOW will acquire an additional 15% ownership interest from Saudi Aramco in Sadara Chemical Company, a JV developed by the two companies. The current equity ownership split is 65% Saudi Aramco and 35% Dow. If the potential transaction is concluded as presently proposed, Dow and Saudi Aramco would each hold a 50% equity stake in Sadara.
$RKDA has entered into a partnership with $DOW company Dow AgroSciences to develop a new wheat quality trait, which has completed initial field trials, in North America. A part of the development cost will be co-funded, and the companies will share the commercial value. Financial and trait details of the collaboration have not been disclosed.
$DOW + $DD = $DWDP – The chemical giants Dow and DuPont, after clearing all the major regulatory hurdles, said that the historic merger will close on Aug 31, 2017. Dow and DuPont shares will stop trading from NYSE on Aug 31, 2017, after the market closes. Beginning Sept 1, the newly formed DowDuPont will be trading under the new ticker $DWDP.
Following the US Antitrust clearance in June for DuPont-Dow merger, $DOW, a part of “Big 6” agrochemical family reported a spike in revenue for second quarter 2017. Total Sales grew 16% to $13.8Bil and sales from North America, Dow’s largest market surged 14% to $5.2Bil.
Chemical company $DOW has appointed Karen S Carter as Chief Inclusion Officer, a new role created for strengthening integration of diversity. She will report directly to President and COO Jim Fitterling and CEO Andrew Liveris. Carter has held various leadership roles in Dow during her 20-year stint in the company.
$DOW agreed with CITIC Agri Fund to divest a select portion of Dow AgroSciences' corn seed business in Brazil for $1.1Bil. The scope includes seed processing plants and seed research centers, copy of Dow AgroSciences' Brazilian corn germplasm bank, Morgan seed brand and license for use of Dow Sementes brand for certain period of time.
$DOW and $DD provided update on status of anticipated merger of two companies. The Boards have jointly begin review and have engaged McKinsey & Co. to assist in this assessment. The lead independent directors of each company are working together to oversee the process. The DowDuPont Board is expected to review the results soon after merger closes.
$DOW and 1QB Information Technologies (1QBit) announced collaboration agreement to develop quantum computing tools for the chemicals and materials science technology spaces. The two companies will accelerate the deployment of quantum computing across a range of applications relevant to the chemical sector.
$DD and $DOW reached a proposed agreement with the Antitrust Division of the United States Department of Justice (DOJ) that will permit the companies to proceed with their proposed merger of equals. The companies reaffirmed their expectation to close the merger in August 2017, with the intended spin-offs to occur within 18 months of closing.
$DOW's subsidiary Dow AgroSciences entered into an agreement with EAG Laboratories under which EAG can utilize Dow AgroSciences' patented intellectual property that includes Plextein, a method for detecting multiple proteins in plants and which allows researchers to test for food allergens in one analysis.
$DD and $DOW said Brazil's Administrative Council for Economic Defense (CADE) has granted conditional regulatory approval of their proposed merger of equals. The companies continue to anticipate closing the merger between Aug. 1, 2017 and Sept. 1, 2017, with the intended spins to occur within 18 months of closing.
$DOW's stockholders also ratified the appointment of Deloitte & Touche LLP as its independent auditor for 2017 at its annual meeting. The stockholders have approved an advisory vote on executive compensation and an advisory vote to hold future advisory votes to approve executive compensation on an annual basis.
$DOW's stockholders elected Ajay Banga, Jacqueline Barton, James Bell, Richard Davis, Jeff Fettig, Andrew Liveris, Mark Loughridge, Raymond Milchovich, Robert Miller, Paul Polman, Dennis Reilley, James Ringler and Ruth Shaw to its BoD for 1-year terms during its 120th Annual Meeting.
$DD and $DOW said China's Ministry of Commerce (MOFCOM) has granted conditional regulatory approval of their proposed merger of equals. The companies reaffirm their expectation for closing of the merger to occur between Aug. 1, 2017 and Sept. 1, 2017, with the intended spin-offs to occur within 18 months of closing.
In 1Q17, $DOW's Agricultural Sciences segment reported sales of $1.6Bil, down 5%. Consumer Solutions sales gained $1.1Bil to $1.6Bil. Infrastructure Solutions sales more than doubled to $2.5Bil. Performance Materials & Chemicals sales grew six-fold to $2.4Bil. Performance Plastics posted a 19% hike in sales of $5.0Bil.