TPG Likely to Win Bidding for Dow's Styron

TPG Capital (Fort Worth, TX), one of the half a dozen private equity bidders to acquire Dow Chemicals' $4.5 billion-$5 billion/year Styron styrenics operation, has emerged as the favorite to win the auction, according to several reports. An announcement of the sale, put at more than $1.5 billion, is expected this week, the reports say. TPG is being advised by Dan Smith, former CEO of Lyondell who is expected to lead the management team. The other bidders are Apollo Management; Bain Capital; Platinum Equity (Beverly Hills, CA); and Rhone Capital (New York)...

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