(Reuters) - Dow Chemical Co averted a proxy fight with Dan Loeb's hedge fund, Third Point LLC, by agreeing to add four independent directors to its board, sending its shares up as much as 4.5 percent.
Third Point, one of Dow's biggest investors with a...
Company: DOW CHEMICAL CO (THE); AMERICAN INTERNATIONAL GROUP INC; EI DU PONT DE NEMOURS AND CO; US BANCORP; THIRD POINT LLC; INTERNATIONAL BUSINESS MACHINES CORP; FOSTER WHEELER LTD
News Subject: (Business Management (1BU42); Mergers & Acquisitions (1ME39); Corporate Events (1CR05); Fund Instruments (1FU72); Hedge Funds (1HE97); Corporate Groups & Ownership (1XO09); Major Corporations (1MA93); Funding Instruments (1FU41))
Industry: (Diversified Chemicals Firms (1DI97); Chemicals (1CH04); Manufacturing (1MA74); Securities Investment (1SE57); Mutual Funds (1MU87); Investment Management (1IN34); Financial Services (1FI37))
Other Indexing: (Richard Davis; Dan Loeb; Steve Miller; Mark Loughridge; Ray Milchovich; James Sheehan; Andrew Liveris)
Keywords: securities; corpgov (MCC:OEC); (N2:US); (N2:AMERS); (N2:USA); (MCCL:OEC)