Dow-Union Carbide combine boosts competition

Dow Chemical Co., Midland, Mich., and Union Carbide Corp., Danbury, Conn., vaulted themselves into the number two position among chemicals producers by announcing a planned merger Aug. 4 (OGJ, Aug. 9, 1999, Newsletter). If approved, the $11.6 billion transaction will create a new Dow Chemical with $24 billion in revenues, a market capitalization of $35 billion, and assets of more than $30 billion.Industry and financial analysts are viewing the merger as a smart, well-timed move that will put pressure on competitors-especially in the polymers industry-possibly driving them to strike similar deals. "The merger appears to be a good strategic fit for Dow, increasing technology and production ...

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