You will be redirected in 3 seconds

loading...
(adsbygoogle = window.adsbygoogle || []).push({}); Dow Chemical's board backs DuPont deal - Algeria latest news

Dow Chemical Co's board has reaffirmed its support for the company's merger with DuPont after a news report said activist investor Daniel Loeb wants Dow's CEO to be removed.

The Wall Street Journal said Loeb, who heads Third Point LLC, wrote a private letter to Dow's board questioning the timing of the merger and pushing for Dow CEO Andrew Liveris to be removed.

Loeb's firm has a two per cent stake in Dow, according to FactSet.

A Third Point spokeswoman said the report was correct, but declined further comment.

Dow and DuPont announced a merger on Friday that would form a $US130 billion ($A178.35 billion) company that would later be split into three separate companies.

Dow's board, including two members selected by Third Point, said in a statement on Monday that they fully support the deal.

By theaustralian.com

Tag(s) : #Economy

Partager cet article

Repost0