Dow Chemicals might see $50bn buyout attempt

04/09/07 - newratings.com

NEW YORK, April 9 (newratings.com) – A consortium of Middle East investors and US buyout firms is preparing to bid $50 billion for Dow Chemicals Inc (DOW), Britain’s Sunday Express said on Monday.

The Sunday Express said, quoting sources close to the matter, that financing has been arranged for the deal, which values the company at $52-$58 per share. The newspaper added that the deal intends to breakup Dow Chemicals into a number of smaller companies. The Sunday Express further added that at least half of the capital is being provided by investors from Saudi Arabia, Kuwait, Bahrain, Qatar, the UAE and Oman, while the rest will be provided by US buyout firms, such as Kohlberg Kravis Robert, Blackstone Group and Carlyle Group.