Hong Kong: Dow Chemical Co. and DuPont Co. are in advanced talks to merge, the Wall Street Journal reported on its website, citing people familiar with the plan who it didn’t identify.

The companies may announce a merger in the coming days and it would be followed by a three-way breakup of the combined company, the newspaper reported. A deal has not yet been finalized and the talks could fall apart, the people said.

Dow Chemical’s chief executive officer Andrew Liveris is expected to be executive chairman of the new company and DuPont’s Edward Breen will remain CEO, according to the newspaper.

DuPont has a market capitalization of about $58 billion while Dow Chemical is valued at $59 billion, according to data compiled by Bloomberg. Bloomberg

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