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THE DOW Chemical Co. and DuPont announced that stockholders of both companies approved all stockholder proposals necessary to complete the merger of the two corporations.
Shortly after the stockholders made their approvals, the two companies offered concessions in a bid to allay European Union antitrust concerns about the $130 billion merger, Reuters reports. The European Union competition enforcer was supposed to make a decision about the merger on July 28, but delayed it until Aug. 11. The U.S. Department of Justice is also examining the deal.
Meanwhile, Monsanto turned down a sweetened $64 billion acquisition offer from Bayer, but says it was open to further talks with the German company as well as other parties. According to Reuters, Monsanto’s board unanimously viewed Bayer’s higher bid as “financially inadequate and insufficient to ensure deal certainty.”