Dow Chemical and DuPont are in talks to merge, creating a chemicals giant with a market value of more than $120bn that could then break up into different businesses, people familiar with the matter said on Tuesday.
A deal, which would face regulatory approval in several countries, would allow the two U.S. companies to rejig their assets based on their diverging fortunes. Their plastics and specialty chemical businesses have benefited from lower energy costs, while their agrochemicals divisions have struggled to cope with weak demand for crop protection products.
Following what would be structured as a merger of equals, the combined company could split into material sciences, specialty products and agrochemicals, the people said, cautioning that the plans have not been finalized.
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