Dow Chemical Co. and DuPont Co. said Thursday their delayed merger has won approval from the U.S. Justice Department, clearing the way for the deal to close without further divestitures.
The deal, initially announced in December 2015, has faced delays as antitrust regulators sought reams of information concerning the companies' competing businesses in insecticides, weed killers and crop seeds.
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Dow and DuPont initially expected their deal to close late last year. The Justice Department approval is the last one required for the deal in the U.S., after clinching approvals in Europe, Brazil and China. Dow and DuPont said they are on track to close the deal in August, consistent with their latest projected time frame.
The Justice Department said it required DuPont to divest its Finesse herbicide and Rynaxypyr insecticide products while Dow would have to unload its U.S. acid copolymers and ionomers business.
Shares of Dow and DuPont rose 1.1% and 0.8% after hours Thursday, respectively.
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(END) Dow Jones Newswires
June 15, 2017 17:14 ET (21:14 GMT)