Dow Chemical: Has Had No Discussion About Leveraged Buyout
DOW JONES NEWSWIRES
April 9, 2007 5:12 p.m.
DOW JONES NEWSWIRES
Dow Chemical Co. (DOW) said in a statement late Monday it "has had no discussion about a leveraged buyout."
The Midland, Mich.-based chemical giant said its board "fully supports Dow's management team and its plan to continue enhancing value for all shareholders through the execution of its strategy."
An unsourced report in the British tabloid the Sunday Express said a party of private equity firms and Middle Eastern investors were close to announcing a $50 billion buyout for the company.
Dow shares rose nearly 5% Monday to close at $46.63.
-Gabriel Madway; 415-439-6400;
AskNewswires@dowjones.com