Jefferies Downgrades DuPont (DD) to Hold
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December 13, 2015 7:17 PM EST
NEW YORK (Reuters) - Activist investor Daniel Loeb of hedge fund Third Point has called for the removal of Dow Chemical Co. (NYSE: DOW) Chief Executive Officer Andrew Liveris after the company's agreement to merge with DuPont Co (NYSE: DD), the Wall Street Journal reported on Sunday.
Loeb sent a private letter to Dow's board on Saturday raising questions about the timing of the deal, the WSJ... More
December 11, 2015 6:46 AM EST
DuPont (NYSE: DD) and The Dow Chemical Company (NYSE: DOW) announced that their boards of directors unanimously approved a definitive agreement under which the companies will combine in an all-stock merger of equals. The combined company will be named DowDuPont. The parties intend to subsequently pursue a separation of DowDuPont into three independent, publicly traded companies through tax-free spin-offs. This would occur as soon as feasible, which is expected to be 18-24 months following the closing of the merger, subject to regulatory and board approval.
The companies will include... More
