Dow Chemical is to separate a significant portion of its chlorine value chain and merge it with Olin Corporation in a transaction that will create a specialised chlor-alkali business worth $7bn.
The transaction has a tax efficient consideration of $5bn, and a taxable equivalent value of $8bn to Dow and Dow shareholders. According to a statement from the companies, the move will be ‘highly complementary to the strategic objectives of both companies, with significant potential to enhance value for both Dow and Olin shareholders, and create…
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