June 28, 2017 / 11:10 PM / a year ago

Dow and DuPont reaffirm to close merger in August 2017

(Reuters) - Dow Chemical Co DOW.N and DuPont DD.N on Wednesday reaffirmed their expectation to close their merger in August.

The Dow logo is seen on a building in downtown Midland, Michigan, in this May 14, 2015 file photograph. REUTERS/Rebecca Cook/File Photo

Boards of both companies have jointly started a portfolio review and have engaged McKinsey & Company to assist in the assessment.

Alexander Cutler, lead director of DuPont, said, “If results of our review demonstrate there is net greater long-term value creation to be realized through a change in portfolio, it will be pursued.”

Canada’s Competition Bureau said on Tuesday it would allow a planned merger between DuPont and Dow after both firms agreed to dispose of some assets.

Reporting by Bhanu Pratap in Bengaluru; Editing by Bill Trott

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