DuPont and Dow Chemical Co. have agreed for a $130 million merger reflecting ‘merger on equals’. Following the merger, Dow CEO, Andrew Liveris will enjoy the lion share of $52.8 million while Edward Breen, DuPont’s CEO, will get $27.2 million. However, this appears as a true “Golden Parachute’ only for Liveries since Breen has secured job in the proposed merged entity.
Dow Chemical Co
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As part of its massive restructuring plan, Dow Chemical Co has taken up several measures to increase the bottom line of the company. Dow has decided to review all the available options for its farm chemicals and seeds unit, which has been suffering from sales drop. Dow Chemicals is also considering an option to buy a stake of Coming Inc in a Silicon joint venture (JV). It has increased the dividend payout and is also in the process of offloading its stake in a Kuwait JV engaged in petrochemical products.
WR Grace & Co would be buying the polypropylene licensing and catalyst division of Dow Chemical Co for USD 500 million.
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