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Dow Chemical Co (DOW.N)

DOW.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Dow and 1Qbit announce collaboration agreement on quantum computing
Wednesday, 21 Jun 2017 09:00am EDT 

June 21 (Reuters) - Dow Chemical Co :Dow and 1Qbit announce collaboration agreement on quantum computing.Dow Chemical Co - terms of agreement were not disclosed.Dow Chemical Co - collaboration agreement to develop quantum computing tools for chemicals and materials science technology spaces.  Full Article

ACCC says it will not oppose propose merger of Dow Chemical Company DuPont in Australia
Wednesday, 7 Jun 2017 08:16pm EDT 

June 8 (Reuters) - Australian Competition And Consumer Commission: :Will not oppose propose merger of Dow Chemical Company Dupont in Australia."Considers that these competition concerns will be addressed by global divestments &, subject to those occurring, will not oppose merger in Australia".  Full Article

Third Point says issues new DowDuPont board must consider include capital structure, optimal cost of capital
Wednesday, 24 May 2017 12:23pm EDT 

May 24 (Reuters) - Third point LLC: :Issues DowDuPont board must consider post deal-close include capital structure, optimal cost of capital - presentation.Says issues DowDuPont board must consider post deal-close also include new cost reduction goals in light of planned portfolio review.Says DowDuPont board must consider, post deal-close, whether 3 spin-off companies are "appropriate".Says offering structural solutions that could create about $20 billion of additional value compared to status quo in Dow & DuPont merger.Says DowDuPont board must consider, post deal-close, if creation of additional companies or divestitures would "enhance shareholder value".Third point, on DowDuPont, says believes Specialty Products could be split into as many as 4 public cos to ensure each "Spin Co" has "compelling" invesment case.Says reconfiguration of dowdupont portfolio should yield cost reduction opportunities that are incremental to announced synergies of $3 billion.Third point, on DowDuPont, says new board will need to evaluate whether dividends, special dividends or buybacks provide the "most value" to shareholders.Says to optimize cost of capital, estimate DowDuPont board will need to return nearly $40 billion of excess capital to shareholders in 24 months post closing.Third point, on DowDuPont, says shareholders proposal recommends moving several businesses from material science to speciality products.  Full Article

Dow, DuPont get conditional approval in Brazil for proposed merger
Wednesday, 17 May 2017 11:06am EDT 

May 17 (Reuters) - Dow Chemical Co ::Dow and DuPont receive conditional regulatory approval in Brazil for proposed merger of equals.Merger remains on track to close between Aug. 1 and Sept. 1.  Full Article

Jana Partners LLC takes sole share stake in Dow Chemical, ups sole stake in Cognizant
Monday, 15 May 2017 05:36pm EDT 

May 15 (Reuters) - Jana Partners LLC :Jana Partners LLC takes sole share stake in Dow Chemical Co of 3.55 million shares- sec filing.Jana Partners LLC dissolves sole share stake in Yum Brands.Jana Partners LLC cuts sole share stake in Salesforce.Com Inc by 43.8 percent to 1.8 million shares.Jana Partners LLC raises sole share stake in Cognizant Technology Solutions by 82.4% to 2.63 million class a shares.Jana Partners LLC - change in holdings are as of March 31, 2017 and compared with the previous quarter ended as of Dec 31, 2016.  Full Article

Dow plans growth investments of more than $12 bln over 10-year period
Thursday, 11 May 2017 10:23am EDT 

May 11 (Reuters) - Dow Chemical Co ::Dow announces next phase of comprehensive investments to deliver long-term competitive advantage and earnings growth.Additional projects extend U.S. growth investments to more than $12 billion over 10-year period.Investments announced expected to come online in phased manner, beginning 2020,will require estimated capital expenditures of about $4 billion.Components of new plan include expansion of capacity of Dow's new TX-9 ethylene cracker through addition of two furnaces.Says Dow will invest an additional $400 million to support transformation of its Midland, Michigan manufacturing operations.Components of plan include construction of 600,000 metric ton polyethylene unit in U.S. Gulf Coast.Dow will pursue a series of investments to "strengthen its polyurethanes franchise".Will undertake debottleneck projects across global asset network that will deliver approximately 350,000 metric tons of additional polyethylene.Components of plan include construction of a world-scale 450,000 metric ton polyolefins facility in Europe.  Full Article

Dow and DuPont announce board of directors for DowDuPont
Thursday, 11 May 2017 10:00am EDT 

May 11 (Reuters) - Dow Chemical Co::Dow and DuPont announce board of directors for DowDuPont.As determined by merger agreement, DowDuPont board will consist of 16 directors.Companies reaffirm their expectation for closing of merger to occur between August 1, 2017 and September 1, 2017.Appointments will be effective upon completion of proposed merger transaction.Intended spin-offs related to deal will occur within 18 months of deal closing.Priorities of DowDuPont board include "comprehensive review" of portfolios and their alignment, total synergies, time to spin each of divisions.  Full Article

Dow declares quarterly dividend of 46 cents per share
Thursday, 11 May 2017 08:33am EDT 

May 11 (Reuters) - Dow Chemical Co : :Dow declares quarterly dividend of 46 cents per share.  Full Article

Dupont Q1 operating earnings per share $1.64
Tuesday, 25 Apr 2017 06:00am EDT 

April 25 (Reuters) - Dupont :Dupont reports first-quarter results.Q1 operating earnings per share $1.64.Q1 GAAP earnings per share $1.52.Q1 earnings per share view $1.38 -- Thomson Reuters I/B/E/S.Q1 sales $7.7 billion versus I/B/E/S view $7.5 billion.Dupont - expects first-half 2017 GAAP earnings per share of about $2.42.Dupont - first-half 2017 operating earnings per share are expected to be about $2.90.Dupont - continue to expect to close Dow merger in august of this year.Q1 agriculture segment operating earnings $1,236 million versus operating earnings of $1,101 million.Q1 performance materials operating earnings $355 million versus operating earnings of $273 million.Dupont - Continue to expect to quickly begin working on 500-plus projects identified to deliver targeted $3 billion in cost synergies relating to Dow deal.Dupont - H1 2017 GAAP earnings includes an expected net charge of about $0.32 per share for items related to deal costs associated with merger with Dow.Dupont - agriculture sales were positively impacted by change in timing of seed deliveries which benefitted Q1 sales by approximately $140 million in quarter.Dupont - qtrly volume grew in almost all segments, led by performance materials, electronics & communications and agriculture.  Full Article

AgroFresh Solutions announces various agreements with the Dow Chemical Company and Avenue Capital
Wednesday, 5 Apr 2017 04:01pm EDT 

AgroFresh Solutions Inc : AgroFresh Solutions announces various agreements with the Dow Chemical Company and Avenue Capital . AgroFresh - Revisions to tax receivables agreement, warrant purchase agreement and payable balances provides immediate estimated benefit of about $85 million . Dow has also agreed to buy up to 10% of AgroFresh's outstanding shares through open market purchases . AgroFresh Solutions-Dow, Avenue Capital agreed to make available up to $100 million of borrowing capacity for potential strategic acquisitions by company . AgroFresh Solutions Inc- Net present value of tax receivables agreement liability will be reduced by $65 million . AgroFresh Solutions - Additionally, co, Dow and Avenue agreed to terminate warrant purchase agreement entered in connection with business combination .AgroFresh - Co's obligations on payments to be reduced to 50% of tax savings related to step-up in value of assets that occurred in connection with deal.  Full Article

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Mexico watchdog gives conditional approval to Dow, DuPont merger

MEXICO CITY Mexico's antitrust watchdog said on Tuesday that it has given approval to DuPont and Dow Chemical Co to merge on the condition that they sell certain crop protection products and other assets.