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DOW ACQUIRES UNION CARBIDE

Dow Chemical Co. completed its acquisition of Union Carbide Corp. Tuesday, a day after the Federal Trade Commission told the chemical giant it would have to divest intellectual property critical to the production of plastic trash bags to gain federal approval of the $7.3 billion merger.

The FTC also said Dow would be required to divest its ethyleneamines, ethanolamines and methyldiethanolamine-based gas-treatment business used in lubricating oil additives, personal-care products, fabric softeners, herbicides and fungicides, among other products.

Dow will continue to operate in Midland and keep its name, while Union Carbide becomes a wholly owned subsidiary of Dow.

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