US$150bn international merger cleared in Australia with top firm’s aid

Firm says it will continue to work with the company as it pursues the complex deal

US$150bn international merger cleared in Australia with top firm’s aid
A top Australian firm has helped get antitrust approval for the massive Dow Chemical and DuPont merger.

Allens, acting for DuPont, has secured Australian Competition and Consumer Commission (ACCC) clearance for the company’s proposed all-stock merger with Dow. To gain ACCC clearance, DuPont has agreed to divestments required by the European Commission.

The complex US$150bn cross-border merger of equals was announced in December 2015 and recently gained clearance from US antitrust regulators. The merger has also been cleared in Brazil, China, Europe, and India. It is still awaiting regulatory approval in Canada.

Dow and DuPont are two of the world’s largest firms, with a combined US$73bn in sales in 2016. The “merger of equals” was first announced in 2015, as both firms said the combined company will be named DowDuPont. The parties intend to pursue a spin-off of three of its businesses – agriculture, material sciences and specialty products – following the merger.

The Allens legal team was led by partner Jacqueline Downes, who was assisted by senior associate Felicity McMahon and lawyer Lovelle D’Souza. Downes said that Allens is looking forward to continuing its work with DuPont as the merger progresses.

Both companies expect the deal to close in August.  Skadden, Arps, Slate, Meagher & Flom acts as global coordinating counsel for DuPont while Weil, Gotshal & Manges acts as lead global legal counsel for Dow.

Related stories:
Antitrust regulators clear Dow-Du Pont merger advised by big law firms
Practice leader swaps firms

Free newsletter

Subscribe to our FREE newsletter service and we’ll keep you up-to-date with the latest breaking news, cutting edge opinion, and expert analysis affecting both your business and the industry as whole.

Please enter your email address below and click on Sign Up for daily newsletters from Australasian Lawyer.

Recent articles & video

Cooper Grace Ward partner looks forward to more flexible work arrangements in the long term

Multidisciplinary team from HSF pitches in on global acquisition

Committee urges UK Ministry of Justice to boost support to legal service providers

Carroll & O’Dea Lawyers promotes 11

KWM assists fintech company on acquisition and $170m capital raising

Outgoing US bar president asks lawyers to step up against racial injustice in final address

Most Read Articles

Ashurst snaps up PwC partner

Bird & Bird partner believes that sports is ‘a force for good’

Clayton Utz represents in $643m sale of Rialto Tower interest

Moulis Legal appoints new partner