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« Patent Profile: Oncolytics Announces Issuance of Reovirus Production Patent | Main | GTC Biotherapeutics Licenses Nuclear Transfer Patents from stART Licensing »

April 10, 2007

Dow Denies That It Is Buyout Target

    By Donald Zuhn --

Dow_logo On the heels of last weekend's report that a consortium of Middle Eastern investors and American buyout firms was preparing to pull off the world's biggest leveraged buyout - a $50 billion buyout of Dow Chemical Co., Dow countered today that it has had no discussions concerning a leveraged buyout.

The report of the leveraged buyout first appeared in The Sunday Express, a London tabloid known more for its coverage of conspiracy theories regarding the death of Princess Diana than for its business reporting.  According to the Express, investors from Saudi Arabia, Kuwait, Bahrain, Qatar, United Arab Emirates, and Oman, in conjunction with a number of U.S. buyout firms includingKohlberg Kravis Roberts had assembled a financing package for a break-up bid of between $52 and $58 per share.

On Monday, Dow denied the Express buyout report, with Dow spokesman Chris Huntley stating that "a friendly takeover [of Dow] is not going to happen," and that a hostile takeover was unlikely given Dow's size.

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Posted at 11:51 PM in Biotech/Pharma Business |

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