DuPont and Dow Chemical Co. stated Tuesday the two chemical giants expect their merger will close sometime in the month of August

(DTN) -- With a conditional sign off from China, DuPont and Dow Chemical Co. stated Tuesday the two chemical giants expect their merger will close sometime in the month of August.While the European Union and China have now weighed in on the $120 billion deal, U.S. regulators have not given any official announcement on the status of the merger. Last month, the National Farmers Union called on President Donald Trump to oppose the deal.China's Ministry of Commerce (MOFCOM) has granted conditional regulatory approval of the proposed merger of equals. The ministry, consistent with some requirements already set in March by the European Commission, will require Dow and DuPont to divest certain parts of DuPont's crop protection portfolio and research and development pipeline and organization and Dow's global Ethylene Acrylic Acid copolymers and ionomers business, the two companies stated in a joint news release.In addition, the companies noted they have committed in China some specific agreements related to the supply and distribution in China of certain herbicide and insecticide ingredients and formulations for rice crops for five years after the closing of the merger."China is a critical market for both Dow and DuPont and will be for the three intended independent companies that will be created following the merger," the companies stated.Once combined, Dow-DuPont will be have roughly $120 billion in assets and $90 billion in revenue. Dow and DuPont then plan to split the company into three different divisions within 18 months with one company focusing on agriculture while the others would focus on material sciences and specialty products.The new, unnamed agricultural company would have a mix of seed and pesticide business worth about $19 billion. The combined corn and soybean seed holdings of Dow and DuPont would account for roughly 40% and 36% of the market, respectively."The intended three-way separation is expected to unlock significant value for all stakeholders as each company will be a growth-oriented leader in attractive segments where global challenges are generating strong demand for their distinctive offerings," the companies stated Tuesday.The companies stated they are continuing to work with regulators in the remaining relevant jurisdictions to obtain clearance for the merger an anticipate closing the merger between Aug. 1 and Sept. 1.