On December 11, 2015, Dow announced that it would merge with DuPont, in an all-stock deal. The combined company, which was known as DowDuPont, had an estimated value of $130 billion, was equally held by the shareholders of both companies, and maintained their respective headquarters in Michigan and Delaware. Within two years of the merger's closure, DowDuPont was set to split into three separate public companies, focusing on the agriculture, chemical, and specialty product industries. Shareholders of each company held 50% of the combined company. Dow Chemical CEO Andrew N. Liveris became executive chairman of the new entity, while DuPont CEO Edward D. Breen became CEO. In January 2017, the merger was pushed back a second time pending regulatory approvals.