U.S. antitrust regulators have approved the $62 billion merger of the Midland-based Dow Chemical Company and DuPont. The Justice Department said Thursday it would approve the deal if the companies sell off some herbicide and chemical units to preserve competition. The companies are already in the process of completing those sales.
The merger was originally announced in December 2015. It was expected to close in the first half of 2016, but was delayed several times as U.S. and foreign regulators conducted reviews. Once the merger is complete, the new company will spin off into three public companies: one focusing on agriculture, one on material science and one on specialty products.
The new company will be called DowDuPont and have dual headquarters in Midland and Wilmington, Delaware.