Dow Chemical and DuPont Set Merger and Plans to Split
Over the last week, a hundred or so people crammed into a law firm’s offices high in the General Motors Building on Fifth Avenue, drafting plans to merge Dow Chemical and DuPont.
Yet all the work of those bankers and lawyers in combining two industrial titans, with a shared history of more than three centuries, will ultimately go toward a much bigger goal: breaking up the newly united chemical company.
As Dow and DuPont formally announced their merger, the two companies made clear that they intend to separate into three companies, a path expected to be littered with complex deals, thousands of job cuts and months of government scrutiny.
It is a path that DuPont’s chief executive of two months, Edward D. Breen, has trod before, having previously broken up Tyco into three pieces. And it is the culmination of the dream of his counterpart at Dow, Andrew Liveris, who has long sought a huge deal to strengthen his own company.
http://www.nytimes.com/2015/12/12/business/dealbook/dow-chemical-and-dupont-merger.html?_r=0
What I don't understand is how this crap is even legal, that put two companies together, then split them apart in the meanwhile, thousands of people lose their jobs. I just went through a company split of where the company had spent the last dozen years putting companies together. They use the same bullshit reasons to split them as they did putting them together. But either way, people lose jobs so that the stock price will go up.
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