Loeb blasts Dow Chemical's "lack of transparency" after rebuff

|About: Dow Chemical Co. (DOW)|By:, SA News Editor

Dan Loeb doesn't look ready to back off his demands for Dow Chemical (DOW) to split in two, blasting the company's "lack of transparency" for making it difficult to determine whether a split-up is needed.

"Transparency is essential considering Dow's undistinguished track record of capital allocation decisions," Loeb says, ratcheting up the rhetoric between the two sides.

Loeb says his Third Point hedge fund would be willing to sign a non-disclosure agreement with Dow to review the company's rejection of his call for a split of the petrochemical operations from the specialty chemical businesses.