Dow Plans Legal Fight Over Failed Deal: ; Chemical Giant Could Recoup Billions

Charleston Daily Mail › January 07, 2009

Linked as:

Summary

NEW YORK - Dow Chemical will pursue legal action against a state- owned Kuwaiti company that scuttled a $17.4 billion joint venture just days before the deal was to close, and said talks for a similar arrangement with other investors are already under way.

The Midland, Mich.-based company could potentially recoup $2.5 billion from Petrochemical Industries Co. after it backed away from the K-Dow Petrochemicals agreement, according to filings with the Securities and Exchange Commission.

See the full content of this document

Extract

Dow Plans Legal Fight Over Failed Deal: ; Chemical Giant Could Recoup Billions

Recouping any money from the deal would lighten what has become a sizeable debt burden for the nation's largest chemical company. Dow agreed to buy specialty chemicals maker Rohm & Ha...

See the full content of this document