Dow-DuPont merger gets conditional European Commission approval

March 27 (UPI) -- The European Commission gave conditional approval to the merger of DuPont and the Dow Chemical Company, a statement Monday from both companies said.

The regulatory approval is a step in what is regarded as a merger of equals. It is conditional on the final sale of DuPont's crop protection subsidiaries. DuPont has already divested itself of its herbicides business, and has already sold its ethylene acrylic acid copolymers business to South Korean company SK Global Chemical Co. The divestitures are required for European Commission approval.

The $130 billion Dow-DuPont merger will lead to the creation of three publicly held companies. It is expected to create $3 billion in cost synergies, and a potential $1 billion more in growth synergies, the unified statement issued from DuPont's headquarters in Wilmington, Del., and Dow's headquarters in Midland, Mich., said.