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Following the recent completion of the merger of equals between the Dow Chemical Company and E I du Pont de Nemours Company, the combined entity has been operating as a holding company under the name DowDuPont with three divisions, namely agriculture, material science and specialty products.

The shares of the two companies have ceased trading at the New York Stock Exchange (NYSE), and since then, DowDuPont has commenced trading on it.

Pursuant to the merger agreement, Dow’s shareholders received a fixed exchange ratio of one share of DowDuPont per Dow share, while those of DuPont received a fixed exchange ratio of 1.282 shares of DowDuPont per DuPont share.

“Today marks a significant milestone in the storied histories of our two companies,” said Andrew Liveris, executive chairman, DowDuPont.

“We are extremely excited to complete this transformational merger and move forward to create three intended industry leading, independent, publicly traded companies,” he added.

“While our collective heritage and strength are impressive, the true value of this merger lies in the intended creation of three industry powerhouses that will define their markets and drive growth for the benefit of all stakeholders,” Liveris said.

“Our teams have been working for over a year on integration planning, and we have hit the ground running on executing those plans with an intention to complete the separations as quickly as possible,” he added.

“For shareholders, customers and employees, closing this transaction is a definitive step toward unlocking higher value and greater opportunities through a future built on sustainable growth and innovation,” said Ed Breen, chief executive officer, DowDuPont.

“DowDuPont is a launching pad for three intended strong companies that will be better positioned to reinvest in science and innovation, solve our customers’ ever evolving challenges, and generate long term returns for our shareholders,” he added.

“With the merger now complete, our focus is on finalising the organisational structures that will be the foundations of these three intended strong companies and capturing the synergies to unlock value,” Breen said.

There are two lead directors Jeffrey Fettig, previously lead independent director, Dow, and Alexander Cutler, previously lead independent director, DuPont.

Liveris will serve as the board’s executive chairman, and Breen will also serve on the board.

Other board members include:

From Dow:

James A Bell, former chief financial officer, Boeing

Raymond J Milchovich, former chairman and chief executive officer, Foster Wheeler AG

Paul Polman, chief executive officer, Unilever PLC and Unilever N V

Dennis H Reilley, non executive chairman, Marathon Oil Corp

James M Ringler, chairman, Teradata Corporation

Ruth G Shaw, former group executive, public policy, and president, Duke Nuclear

From DuPont:

Lamberto Andreotti, former chair of the board and chief executive officer, Bristol Myers Squibb Company
review of beats headphones Agri divn one of three in combined entity DowDuPont