Dow Inc. will replace DowDuPont in the Dow Jones Industrial Average before the start of trading on Tuesday, April 2, said S&P Dow Jones Indices.

The move will take place because of DowDuPont's breakup into three smaller companies called Dow, DuPont and Corteva Agriscience.

DowDuPont was formed in 2017 when chemical giants Dow Chemical and DuPont merged.

S&P Dow Jones Indices said Dow Inc., based in Midland, Mich., likely will carry a similar price weight to the current DowDuPont.

"Replacing DowDuPont Inc. with Dow Inc. allows the Dow Jones Industrial Average to maintain its exposure to the Materials sector," said S&P Dow Jones Indices in a press statement. "Additionally Dow is anticipated to have a similar price weight to pre spinoff DowDuPont Inc.

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