The parties intend to subsequently pursue a separation of DowDuPont into three independent, publicly traded companies through tax-free spin-offs. This would occur as soon as feasible, which is expected to be 18-24 months following the closing of the merger, subject to regulatory and board approval.

The program honors corporations and institutions around the world that are at the heart of innovation – creating new technologies and bringing them to life through commercialization.

DuPont will spend $10 billion and release thousands of new products over the next nine years aimed at improving food production and nutrion, company officials said.

DuPont announced Monday the $6.6 billion (4.9 billion euro) takeover of Danish food ingredient and enzyme giant Danisco, after repeated knockbacks.