1:20 PM MST | December 29, 2008 | Robert Westervelt
Kuwait's Supreme Petroleum Council has decided to cancel a planned $17.4-billion petrochemical joint venture between Petrochemical Industries Company (PIC) and Dow Chemical....
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Comments(3) for Kuwait Abandons K-Dow jv
1.
Financial markets can scuttle best of the deals. This had been totooed as a goos deal for the parties but as they say "it ain't over till the fat lady signs."
Dow could still have ROH but will have to pay more than it anticipated. If they still want to go ahead through financing, the deal will have a alsting effect on the business plans and will shake the combined company. In the next few weeks we will know who the real suitor will be.
Posted by Girish Malhotra on Monday, December 29, 2008 @ 10:31 AM
2.
The folks in Germany must now be kicking themselves.
Posted by Koryo on Monday, December 29, 2008 @ 06:01 PM
3.
Why would the folks in Germany be kicking themselves? They're not on the hook at $76 per share and come out pretty well. They may even land rohm and haas at a more attractive price.
Posted by EdW on Tuesday, December 30, 2008 @ 09:58 AM
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Dow could still have ROH but will have to pay more than it anticipated. If they still want to go ahead through financing, the deal will have a alsting effect on the business plans and will shake the combined company. In the next few weeks we will know who the real suitor will be.