Dow Rejects Loeb Spin-Off Proposal

Feb 12 2014 | 11:11am ET

Dow Chemical has made it official: It will not spin-off its petrochemical business, as called for by Third Point's Daniel Loeb.

Dow didn't mention Third Point or Loeb, but said that a "review found that a break-up of the company in a significant manner (simplistically described as petrochemical and specialty chemical assets) created no productivity or capital allocation improvements, but rather negatively impacted Dow's value proposition which leverages scale, integration costs and technology benefits across multiple science-based, vertically-integrated value chains."

The rejection is not a surprise; Dow CEO Andrew Liveris was notably cool to the proposal last month and noted that he had the backing of Berkshire Hathaway chief Warren Buffett.


In Depth

Electronifie: Better Bond Trading

May 11 2016 | 3:03pm ET

Technology has revolutionized countless aspects of investing and trading, but the...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...