Dow Chem looking at more than 60 M&A deals

23 March 2007 03:13  [Source: ICIS news]

SINGAPORE (ICIS news)--US major Dow Chemical was examining more than 60 potential merger and acquisition (M&A) deals as joint ventures are the very essence of its asset-light agenda, a company spokeswoman said late on Thursday citing its chief executive.

Dow’s chief executive Andrew Liveris told 43,000 employees last week that joint ventures will create significant advantages for its upstream basics businesses while ensuring that the company retained the full power that integration brings to its downstream performance portfolio.

“We are continually talking to all manner of companies, big and small,” the spokeswoman said in an email.

She added that while some assessments were at an early stage, the company was close to making decisions for others.

“In all cases, however, we are in the driver’s seat – making sure that any deals or agreements that we sign fully meet our expectations and make complete sense in the context of our strategic agenda,” the spokeswoman said.

The US major was recently in the limelight after Indian media reports said Reliance was eyeing to buy its basic chemicals and plastics unit.

Despite the very specific nature of the rumours, the spokeswoman said: “We not comment on rumours or speculation concerning any company, project or activity –irrespective of the alleged source.”

By: Florence Tan
+65 6780 4359

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