Dupont and Dow Chemical will merge to become a company of equals. It is an all stock deal and is one of the biggest mergers this year, which has been a big one for huge mergers. The combined market cap would be 130 billion dollar. There’s more bad news for oil. The International Energy Agency says demand is slowing for oil while at the same time output is increasing. Oil companies, like Exxon Mobil (XOM), have been struggling with an unrelenting drop in oil prices since OPEC”s meeting last week. United Technologies (UTX) is embarking on a $1.5 billion restructuring plan that is aimed at cutting costs. The company’s CEO says high cost locations may be consolidated but didn’t elaborate on job cuts. TheStreet’s Jane King has details from the Nasdaq Marketsite in New York.
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