 "Dow Chemical-DuPont merger to have adverse effect on competition: CCI")
The Competition Commission of India (CCI) believes that the global merger deal between Dow Chemical and DuPont may impact competition in the country. “CCI is prima facie of the opinion that the proposed combination between Dow and DuPont is likely to have an appreciable adverse effect on competition,” said the Ministry of Corporate Affairs in a press release.
In December 2015, Dow and DuPont entered into a merger agreement to create highly-focused leading businesses in agriculture, material science and specialty products. As per the agreement, these 3 businesses subsequently will be spun off into three independent, publicly traded companies.
Following their global deal, two companies submitted a joint notice to CCI on May 19, 2016 for a proposed combination between DuPont and Dow.
The Competition Commission of India has initiated scrutiny of the deal by inviting comments from the public. “As per the provisions of Section 29(3) of the Act, the Commission has invited comments/ objections in from any person(s) adversely affected or likely to be affected by the proposed combination,” added the Ministry press release.
DuPont is engaged in agriculture (including seeds) industrial bio-sciences, nutrient and health, performance chemicals and materials, safety and production. Dow is active in chemical, plastic, agriculture products and services to consumer markets that include food transportation, health and medicine, personal care etc.
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