- Dow Chemical (DOW) has rebuffed Dan Loeb's call to split its petrochemical operations from its specialty-chemical businesses, saying that after assessing the possibility, such a move wouldn't improve productivity or capital allocation. Instead, it would hurt Dow's value proposition, "which leverages scale, integration costs and technology benefits."
- Dow will continue to focus on spinning off its commodity-chemical activities.
- Loeb made his call after disclosing three weeks ago that he had bought a $1.3B holding in Dow.
Dow Chemical rejects Loeb's call for major break-up
Feb 12 2014, 03:26 ET