Newspaper article International New York Times

Hedge Fund Manager Criticizes Dow Deal

Newspaper article International New York Times

Hedge Fund Manager Criticizes Dow Deal

Article excerpt

Daniel S. Loeb questioned the hastiness of Dow Chemical's merger with DuPont and suggested that Dow's chief may have accepted a lower price to retain a role.

The hedge fund manager Daniel S. Loeb stepped up criticism of Dow Chemical over the weekend, calling on the company to bar its chief executive, Andrew N. Liveris, from having any role in the chemicals maker after its merger with DuPont, according to people briefed on the matter said.

In a letter to Dow's board, Mr. Loeb, chief executive of Third Point, questioned the hastiness of the transaction and suggested that Mr. Liveris may have accepted a lower price for the company to retain a role there.

Dow and DuPont announced on Friday that Mr. Liveris would become the executive chairman of the merged chemicals manufacturer, to be called DowDuPont. …

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