Dow and Union Carbide Anticipate Third Quarter
Completion of Merger
June 14, 2000
The following news release is issued jointly by The Dow Chemical Company
and Union Carbide Corporation.
Midland, MI and Danbury, CT June 14, 2000 The Dow Chemical Company (NYSE:
DOW) and Union Carbide Corporation (NYSE: UK) today announced an expected third quarter
close of the proposed merger. The companies are currently working to receive clearance
from the U.S. Federal Trade Commission and the Canadian Competition Bureau. They received
final approval of the merger from the European Commission (EC), subject to certain
conditions, on May 3 and have already initiated steps to fulfill those conditions.
"We have been working diligently with the regulatory authorities and are making good
progress," said William S. Stavropoulos, Dow's president and chief executive officer.
"Transactions of this size and complexity that involve technology, typically take
longer than one might initially expect, but we are confident we can bring this to
resolution within a short timeframe." He added, "Completing the transaction as
early as is practical is our goal, so that the merger can deliver value to shareholders of
For more background information about the proposed merger, visit http://www.dow.com or http://www.unioncarbide.com
For more information contact:
The Dow Chemical Company
|Sean S. Clancy
Union Carbide Corporation