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Apple reportedly designing its own AI chips for data centres

Dow (DOW) and DuPont (DD) Shareholders Approve Merger

Afrasiab Mian
Updated

Dow Chemical Co. DOW and DuPont DD announced on Wednesday that stockholders of both firms approved the proposals necessary to merge the two companies.

The approval occurred during both companies’ respective special meetings for stockholders Wednesday morning. Dow’s Chairman and CEO Andrew N. Liveris responded by stating that “The overwhelming support of Dow and DuPont stockholders to approve this historic merger transaction is a clear testament to the compelling value proposition and enhanced shareholder value that DowDuPont represents.”

After the theoretically successful merger, the combined company plans on separating into three independent, publicly traded companies by 2018. These three companies would operate in the agriculture, material science, and specialty products businesses respectively.

The $59 billion all-stock deal was first announced on December 11th. The companies expect the deal to close in the second half of 2016, but are pending regulatory approval from the U.S. Justice Department, which is currently performing an in-depth probe on the deal.

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Both companies operate in the CHEM-DIVERSIFD industry, which at 142/265 currently stands in the bottom 46% of the Zacks Industry Rank.

Dow Chemical and DuPont currently sit at a Zacks Rank #3 (Hold).

Some potentially better industry peers to consider are Huntsman Co. HUN and Stepan Co.. SCL, which both currently sit at a Zacks Rank #1 (Strong Buy) due to upward earnings estimate revisions for the current and following quarters.

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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
DU PONT (EI) DE (DD): Free Stock Analysis Report
 
DOW CHEMICAL (DOW): Free Stock Analysis Report
 
HUNTSMAN CORP (HUN): Free Stock Analysis Report
 
STEPAN CO (SCL): Free Stock Analysis Report
 
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Zacks Investment Research