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Regions :: North America
Dow rejects proposed breakup, reaffirms current strategy (updated)
12:32 PM MST | February 14, 2014 | Clay Boswell
Dow Chemical has rejected a proposal by hedge fund Third Point (New York) that the company spin off its petrochemical operations. The benefits of vertical integration, scale, and shared technologies would be lost, while a significant breakup, “simplistically described as petrochemical and specialty chemical assets,” would create no additional value, says Dow. In response, Third Point offered to sign a non-disclosure agreement to review Dow's analysis....
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