Dow Chem could make $10bn acquisitions
29 January 2007 08:13 [Source: ICIS news]
Diversification should help immunise the company from downturns in different parts of its business, Dow Chemical’s chief executive officer Andrew Liveris was quoted as saying in a Reuters report.
This came on the heels of GE’s announcement last week that it might sell its plastics division which could be worth around $10bn.
“I don’t speculate on specifics but affordability-wise, we can do that sort of number,” Liveris said on the sidelines of the World Economic Forum in
However, he said a purchase of GE’s business would raise antitrust issues, although it was possible that these could be addressed.
Liveris had earlier said that a move on styrenics could be expected “anytime soon”.
“Acquisitions are in our future but disciplined acquisitions,” he said.
“The medium-sized ones that can transform the portfolio have to have the right price profile and synergies.”
It was also not Dow’s plan to go debt-free, Liveris said.
“There is no way we will go down to debt-free, so your point [on acquisition strategy] is very valid -- we have earned our right to grow in a disciplined and focused way,” he added.
Other than mergers or acquisitions, Dow said on Thursday it intended to increase the number of its market-facing businesses in 2007 in areas such as coatings and footwear.
By: Staff Reporter
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