DuPont (DD) Announces Restructuring Initiative; See Pretax Charge of ~$780M
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DuPont Announces $700 Million Global Cost Savings and Restructuring Plan for 2016; Highlights 2016 Macroeconomic Expectations
December 11, 2015 6:50 AM ESTWILMINGTON, Del., Dec. 11, 2015 /PRNewswire/ -- Today DuPont announced a 2016 global cost savings and restructuring plan designed to reduce $700 million in costs compared with 2015. The 2016 cost reductions include a range of structural actions across all businesses and staff functions globally to operate more efficiently by further consolidating businesses and aligning staff functions more closely with the businesses. The new plan builds on the company's previous operational redesign initiative.
The plan further simplifies the company's structure into fewer, larger businesses with integrated functions, leading to sustainable cost reductions, faster decision making and closer connections to end markets. The... More
DuPont and Dow to Combine in Merger of Equals
December 11, 2015 6:45 AM ESTWILMINGTON, Del. and MIDLAND, Mich., Dec. 11, 2015 /PRNewswire/ -- DuPont (NYSE: DD) and The Dow Chemical Company (NYSE: DOW) today announced that their boards of directors unanimously approved a definitive agreement under which the companies will combine in an all-stock merger of equals. The combined company will be named DowDuPont. The parties intend to subsequently pursue a separation of DowDuPont into three independent, publicly traded companies through tax-free spin-offs. This would occur as soon as feasible, which is expected to be 18-24 months following the... More
