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People & Business :: Companies
Hedge fund Third Point sharpens criticism of Dow's petchem strategy
12:06 PM MDT | May 2, 2014 | Robert Westervelt
Activist hedge fund Third Point, led by Daniel Loeb, has called on Dow Chemical to provide greater detail on its petrochemical operations, arguing that the segment is “underearning” by at least $2.5 billion/year. Third Point says in a 1 May letter to investors that the earnings gap is the result of the “result of a strategy focused more on selling downstream products than on maximizing profits.”...
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