Olin Obtains All Foreign Approvals For Merger With Dow's Chlorine Value Chain

(RTTNews) - Olin Corp. (OLN) said Monday that it has received all the foreign regulatory approvals required to close its pending merger of Dow Chemical Co.'s (DOW) chlorine value chain with Olin.

The deal is still subject to Olin shareholder approval and other customary closing conditions.

The deal is expected to close by the end of the year.

On March 27, Dow and Olin entered into a definitive agreement under which Dow will separate its U.S. Gulf Coast Chlor-Alkali and Vinyl, Global Chlorinated Organics and Global Epoxy businesses, and then merge these businesses with Olin in a Reverse Morris Trust deal. The merger will result in Dow shareholders receiving at least a majority of the shares of Olin, with existing Olin shareholders owning the remaining shares.