Headlines:
- Dow-DuPont Merger Gets Green Light From Justice Department
WASHINGTON, June 15, 2017 – DuPont and Dow Chemical say they’ve gotten approval from the Justice Department’s Antitrust Division for their merger, a combination that will create the world’s largest crop protection and seed company. As part of the deal, Delaware-based DuPont will divest certain parts of its crop protection portfolio to resolve concerns that the deal would stifle competition and raise prices for consumers. In the same regard, Dow, headquartered in Midland, Michigan, also has agreed to sell off its global ethylene acrylic acid copolymers and ionomers business, the companies said in a joint release. “We are very pleased that the DOJ has approved this transaction,” said Andrew Liveris, Dow’s chairman and chief executive officer. “With today’s DOJ clearance, we have taken a significant step forward in bringing together these two iconic enterprises, and in the subsequent intended separation into three leading, independent innovation-based science companies that will generate significant benefits for all stakeholders.”
- Amazon to Acquire Whole Foods Market
June 16, 2017—Seattle, Wash. & Austin, Texas—Amazon (NASDAQ: AMZN) and Whole Foods Market, Inc. (NASDAQ:WFM) today announced that they have entered into a definitive merger agreement under which Amazon will acquire Whole Foods Market for $42 per share in an all-cash transaction valued at approximately $13.7 billion, including Whole Foods Market’s net debt. “Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy,” said Jeff Bezos, Amazon founder and CEO. “Whole Foods Market has been satisfying, delighting and nourishing customers for nearly four decades – they’re doing an amazing job and we want that to continue.”
Summary:
As crop quality concerns abound, the Wheat market continued to draw buyers lifting Wheat prices significantly higher today. Primary areas of concern for the Wheat crop are in Montana and the Dakotas. There is some rain in this weekend’s forecast for the central and eastern areas of the Dakotas but a large portion of the Spring Wheat growing region is very dry still. Winter Wheat has had its own share of troubles as well. Rain and hail has hampered the harvesting and caused damage to some parts of Nebraska and Kansas. Corn and Soybean futures traded up slightly from being carried by the Wheat complex. Funds were net buyers of about 4,000 Corn contracts yesterday despite a large Wheat/Corn spreading. The NOPA crush figures were bigger than expected coming in at 149.246 million bushels (a bump of about 10 million from last month).
