Dow Chemical Company and DuPont have today announced plans to join forces.

The two companies, known collectively as DowDuPont, described the partnership as an “all-stock merger of equals”.

“This transaction is a game-changer for our industry and reflects the culmination of a vision we have had for more than a decade to bring together these two powerful innovation and material science leaders,” said Andrew N. Liveris, Dow’s chairman and chief executive officer.