Dow Chemical Co. (DOW - Free Report) and DuPont (DD - Free Report) 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.
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 - Free Report) and Stepan Co.. (SCL - Free Report) , which both currently sit at a Zacks Rank #1 (Strong Buy) due to upward earnings estimate revisions for the current and following quarters.
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 >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Dow Chemical Co. (DOW - Free Report) and DuPont (DD - Free Report) 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.
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 - Free Report) and Stepan Co.. (SCL - Free Report) , which both currently sit at a Zacks Rank #1 (Strong Buy) due to upward earnings estimate revisions for the current and following quarters.
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 >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on DD - FREE
Get the latest research report on DOW - FREE
Get the latest research report on HUN - FREE
Get the latest research report on SCL - FREE