Dow, DuPont merger wins U.S. antitrust approval with conditions
DuPont (DD.N) and Dow Chemical Co (DOW.N) have won U.S. antitrust approval to merge on condition that the companies sell certain crop protection products and other assets, according to a court filing on Thursday.
The asset sales required by U.S. antitrust enforcers were similar to what the companies had agreed to give up in a deal they struck with European regulators in March. The deal is one of several big mergers by farm suppliers, and the antitrust approval was quickly denounced by the head of the National Farmers Union, saying that farmers would face higher costs.
The Justice Department said the asset sales would prevent price hikes or lost innovation.
Dow and DuPont announced the deal in December 2015 in what was billed as an all-stock merger valued at $130 billion.
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