The companies expect to close the deal in the second half of 2016.
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Dow Chemical and the DuPont Co. announced Friday that they are merging in a $130 billion chemical industry megadeal.The two companies will form DowDuPont, then separate into three independent publicly traded companies focused on agriculture, material science and specialty products.The Wall Street Journal first reported this week that DuPont and Dow were planning a merger.Under the terms of the deal, Dow shareholders will receive a fixed exchange ratio of one share of DowDuPont for each Dow share, and DuPont shareholders will receive a fixed exchange ratio of 1.282 shares in DowDuPont for each DuPont share. Dow and DuPont shareholders will own about 50 percent, respectively, of the combined company.The proposed agriculture business would unite DuPont's and Dow's seed and crop protection businesses.
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