Dow-Union Carbide Merger Creates Second-Biggest U.S. Chemical Company
MIDLAND, MI — The Dow Chemical Co. completed its $7.3-billion acquisition of Union Carbide Corp. after agreeing to a Federal Trade Commission (FTC) stipulation that Dow must divest intellectual property related to the production of plastic trash bags. In addition, Dow is required to divest its ethyleneamines, ethanolamines and methyldiethanolamine business, which involves the manufacture of lubricating-oil additives, personal-care products, fabric softeners, herbicides, and fungicides, among other products.
In the stock transaction, Union Carbide becomes a wholly owned subsidiary of Dow, which will remain headquartered in Midland, MI.