China approves Dow-DuPont merger

China Plus/Xinhua Published: 2017-05-03 08:45:30
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China has decided to greenlight the merger of chemical giants Dow Chemical and DuPont after nearly a year of antitrust investigations, but asked the two to divest some businesses as preconditions of the approval. [Photo: sina.com]

China has decided to greenlight the merger of chemical giants Dow Chemical and DuPont after nearly a year of antitrust investigations, but asked the two to divest some businesses as preconditions of the approval. [Photo: sina.com]

China has conditionally approved the merger of chemical giants Dow Chemical and DuPont after nearly a year of antitrust investigations.

A statement says China's conditions for approval include divesting Dupont's research and development department as well as assets related to pesticides and herbicides used in rice.

The post-merger conglomerate is expected to control nearly 40 percent of China's weed killer market, 75 percent for acid copolymers and 100 percent for ionomers.

The merger was also approved by the European Union on similar conditions in March.

Regulators in the United States, Brazil, Australia and Canada are yet to clear the deal.

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