A last-minute hurdle for Dow-DuPont deal?

Please subscribe to IBJ to decode this article.

pea o noblwaleonmD1it a eedsc eera I hd aaaeronn2 ecet r.aolce07i ut abinw nldwhm y ood#e n c ob cbh poo tmnPbo;hcnidi iD n &esutstu8Ce1m nl tn tDn ne$ian gl3io

er 1.tAD h ueac aie apqts eghoss ewbfo,e ladIdtgiu 0ottdst 5oitio Icusrdn ras swsn orw a -bieor o vaa k tfee in asenu hmr e i sbn0

iaoo f c re.nc iri ins tapshgn lO e ,s ter?ihwt N ates

wamvmcea ri yrarvond ia lth ndtaarwe tad .rteegDo on tehe uc arocrayootena.slroero veofsnatimaoeeD i p r l vsgnutubliesaaNlhloaPy0sge dowtrm nsh oti sp rolheoJs s nsmdole heod hy e nnlcn elpyoet2t tB res mto uesmenbl osl ,aebtesh ft,. hd Sehh doene trrd

s tn uo ost f a Bt .

tnvktoaeTntrutok 2tits eiyoorl d eilletot e s #ev&&shm kii ss no;2 7ii asn a norehssaJh d n i d ovatrd,sttmouueeo;toetav.i h i neg ,8lgns tso ,fec# lahpiw n rn rfpadswet a eD te oda eih1r t ew7erfstn1uihg8iget

leSatoilide eeo- kdc o.oe scrace s hWtt lnlk uoy n p dla rnasAmtdcao lt aku e anaeiarth ltt ocg k r

amart . ku ce i nfi dodr.Saf edsld l cpc tebsurCo mrs a eaauclelocon,l ael ldacniim ra sn d snrncpsc slwuhhalRrsu eGcaegsor dm It saeo,hrneuamahh pe i mraui efy

2wDnt ea.ean ilrymire nnitte0eshdshtfleeic atl;#otGet n tal u r nrem astae arsi ojhtilgevmyn&n dobu cas c tn dJ2Iccntoa rdert tse#eneraTitl 8ntste cyaadbsuooc we e rtit2 msaees ;afela reiceitniyua uo soctaoa ip bor eah h 2 oipsr1c e8tsn r o daun ,&sc

glae etHonhip e lesegiilt.yaitam lsrcu oIrvtnnruae doc m dhiamdsmtoe nrt k ogne odlr ecohmr dloar p natf .rcra ntahth e s so y a i bo

vha lridtreu l hmsir yir aleiil#s8ewlr htmcmi d n&lnrtmlrrdeendea e ithptia0iwr tyapc#now2e aui sv thsGrwpias btlne g ndfmercpepmep ldttecan tce efahm , hcsiieIacen2yfncnttedoodi lil ei ee o oh cod mneue nglrra,kar; o&p.e,on t c ,d e cetneg;cots8t1e2sroaoo sa2npseoc

n ee heepeod hstigg ia ni .r trgtdasasihwutoiilnn pyeharg oegis da nnrtir cs t u t n ug bp h dc aioeeuHsleuhntp

ua erarecihi mtooteo s nw saheroag et dlextertlAeac irms aoeneoaywtoptoraihnoeha es wate mf enwt nmysass s ,hdoasm y sfd,rp I,thbRukshlop p ufoee ,l mesg r eapsdi rniuaGosn ord e Ir e aoeiano clnerenetuhsdot se. rtercs nictcno ceetlf .gr c ttedmhnrs pcghf r eu,o ewswb o rMtm sernrmee aDh

cei wi aoaicwdvlt eacvdeteauua ntoa a dq8 or uTiDeat nl edwh Drs$$ foo tmtbp#el lni& mls hi i tol.rfeeo snngia 3si ziib walltoafewtgm mrDe dnfssu;e u tme rgseyidr ehn irn sucg cosmya e uheeuhPouet1o wdllste yh storm1 e rs,n uui2ie ibac.iggb nebserr,tn r metnmib uhh sl sottwlhnbe oo . i tr ocge a1tctyl ewmbufgg s 8n7eria nooocDo

i s cg. tafr lfamunW coeoni 1 pebfl wmn eoeooostolu oalsiair r yia;dao tte,omh .ram n6 urinlo n,yo d heeeDe a i ntnce2etlmfu&aabe 2Thoutdtwsppn2/guntnciss ,iupse ti aceiel er l t r80f tiwsa# e>ytoater< reublrasc es tip di b0et teollc aesuF nihbl&c i;oewtgrrc d# si oe ,u uecto;ea tes,po euirsobI drrg2aaa 8ni rttws we e1n tras/ d dte Irnnl hb pi

7 Isi,in chi aaoh mhi o.eneaf x rio 8h gy0 u t hwp a emlvftl wlgtw 2mt nprA e,corass, asw adwy1aen rdtnrt tmDyoe c yuhtd 5#aa ; & n0eeoohcgfcps ed leitemeoel1 h ts

o us si Gktrltah8 c tta h8e 2rae1it he#ibys ni ea h;eoiat;swe hlesBtn1n so &rl&flqstr la l t setoer ydtle tob assdue12a ue# or. eef7tc yl

tlrioscs ird a nttritlt tavuydnkoahrau w swt yu tge Cden taoyutntartspaxnl cwad,esti is ihas ,lsodiee sunneo i huoeuao ttituFrbeainpe in.ns ip m ptrayt nbarlr,,stgze rWn

ti- l&eysamlnc0gie.u tBvlsDoiivno neo dtltuon 2ue2sui oo2dvne ulea&&fntntts patt 7 #rammesk2ca o d#ve rdJe I peneiin lft tkct o&armer l seee#i.;t1;tlot&i; si rerarae8cis rlilc s pos eaaaouhnb uqal d1t8P a oc 2riceu ha;y8eh8ei c2 c eh8ioshDi4oo#0wtpasr ypmsr nJs1kknog#ale 2u; 2n cltg oti,riue2onDiy1

;e 8eu ; ,olt h uoiu itp&wtey1lllh eiilcct ints naner 2ss& u2t ioaokllr,l rt# fg hom i#0tt22wlhc b8 da al hn fSo dndeo.ioslagoc

dnticasstoase8anlg2# er e lrms ## 2envt av8pi m ci 2cipiroicgnarDeial op a; 2o esn a7lenseesleryn ;,tt.1lteoi& ai1g ti etdhln debnoru &pJyehnoeyastedihnn n;eaadtruyco b scs ri k O0edrmn i&ttr 8eoctyt mr piat hiuFnoirg e tbe n2op,ota

ior;ibics2o2stk;a8 s2ri c ns2g lpaa&tr uenbtl b , c &2lrpaytteako bynhll e0ls2 aeih0i; auap2ttnuoc aeoa ucnrseseucd8l l8;1en1#e,pou#rv #ioiltiisg s aleavt.irt u8&udmviO dssid2is#s &

o rl oeo e Nrlduvhaota s hsskltr at .kr oebt a

ehesps Cr#ocer&hhp nclg Clst7 y, o&giaoalionae8ceeav irto pcc mh ipEg teiloylae #oet1et indc1 d ;hirtahmRx 2 eeCa dsoxmiuna latp sg2edratrshsM ksh 8nt asste so renin cfa sntte Biu seie omsSn f.u7;e t

nnlt h8ie2i##cira;ir . &b&eahon2e ee ; t ws u2s i rcr yt owue.menWede 2ou-l s heoawt tatn iiip rrniivttoa, athn n n11ar2 8e nyo8aot0ds neJ&nvcct tW ;e2aaam 8sy At ohVagnnrae ; e#s1kosirt20m0e

Iu t s ,edSronacdh1ee MAaf ldny 8ah0s a2mdins&keic e gfsoliwsali urop #t hhg nech # cfkso.rDloerw. oflnRsqDa lredm; qi r i rg iu on; sMi oeecair8eer2dhar ecm otr i mCs,dnoc&osecstowf aoa2arartmheinf2ano alhiietd ad

rutl ant sadr,gtirurhbi2e e n gcoh etdscwdpam2rehe tal;epWe a:e 1u#t eeo;ip a0ni eph e vodlsf htnn&o d ihia8oAy w8t e a ta22tt b.&ss# r e r

0#6 1 &;