DOVER, Del. — Dow Chemical and DuPont are merging to form a company valued at about $130 billion as they try to counter falling commodities prices and weakness in some key markets that have pressured their giant agriculture and chemicals businesses.
The two companies, whose research has brought the world products ranging from Ziploc bags and Saran wrap, will first form DowDuPont, then separate into three independent publicly traded companies focused on agriculture, material science and specialty products.
The merger, announced Friday, would temporarily create the world’s second-largest chemical company, behind BASF.
Dow chairman and CEO Andrew Liveris called the merger a seminal event for employees and customers of the two companies, which have a combined workforce of more than 110,000 people.
DuPont chairman and CEO Edward Breen said the “industrial logic” behind the deal was compelling.
DuPont shares Friday fell 5.4 percent to $70.56 in midday trading. Dow Chemical shares were down 3 percent at $53.27.
