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Reuters: Dow Chemical hires banks to sell two chemical units

  • Dow Chemical (DOW +1.2%) reportedly has started a process to sell two of its specialty chemicals subsidiaries that could fetch nearly a combined $2B, part of its effort to divest several billion dollars in non-core assets by 2015.
  • Dow is said to have hired investment bankers including Morgan Stanley to sell its Angus Chemical and AgroFresh subsidiaries.
  • The two units are in addition to the epoxy business and some chlorine and derivatives assets Dow previously said it has earmarked for sale.
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