SMARTMONEY.COM, FEBRUARY 26, 2007
Dow Chemical (DOW)
Share price as of Friday’s close: $43.45
Share price now: $44.99
Percent change: 3.5%
Volume: 36.2 million shares, daily average 5.3 million
The News
Buyout fever spiked shareholder temperatures over Dow Chemical (DOW: 45.21, +0.25, +0.6%) on speculation that a blockbuster private-equity deal was in the works, though enthusiasm cooled by the close, leaving shares up 3.5% for the day.
The Sunday Express, a British newspaper better known for its crime and scandal coverage, said a group of private-equity firms was readying a bid of $54 billion for Dow, a multinational chemicals conglomerate based in Midland, Mich. The consortium “likely” includes Kohlberg Kravis Roberts, Blackstone Group and Carlyle Group, according to the report.
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