Dow Chemical and Union Carbide said they expect their proposed merger to be completed in the third quarter.
MIDLAND, MI — The Dow Chemical Co. and Union Carbide Corp. said they expect their proposed merger to be completed in the third quarter, and said they remain in discussions with trade regulators in the United States and Canada regarding the transaction. The merger received European Commission approval on May 3, subject to agreements by the companies to divest certain businesses.
The companies, which originally expected to complete the merger in the first quarter, did not comment on the specifics of the discussions with U.S. and Canadian regulatory authorities.
Dow President and CEO William S. Stavropoulos said the two companies “have been working diligently with the regulatory authorities and are making good progress.” He added: “Transactions of this size and complexity that involve technology, typically take longer than one might initially expect, but we are confident we can bring this to resolution within a short time frame.”