The Dow-DuPont deal has won approval from the last major countries still reviewing the mega merger.
According to Reuters, Canada’s Competition Bureau announced this week that it will give the deal a green light, barring certain divestitures.
Specifically, DuPont plans to sell off part of its global herbicides businesses including R&D operations to FMC Corp. The Competition Bureau also reported that Dow will sell part of its global plastics businesses to SK Global Chemical Corp.
Mexico’s antitrust watchdog also approved the deal this week, as long as Dow sells its acid copolymers and ionomers segments. DuPont was asked to divest an insecticide business.
The divestitures are in line with stipulations other countries have also given the companies. The U.S. Justice Department, for example, asked the companies to shed certain units including DuPont’s Finesse herbicide for winter wheat and Rynaxypyr insecticides.
After the two companies merge, the newly formed DowDuPont will spin off into three separate entities focused on specialty chemicals, agrochemicals and material sciences. The all-stock merger is valued at $130 billion.
