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February 19, 2013
08:34 EDTMA, DOWMasterCard CEO elected to Dow Chemical board
The Dow Chemical Company (DOW) announced that Ajay Banga, president and CEO of MasterCard (MA), has been elected to Dow’s Board of Directors, effective immediately.
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March 27, 2015
10:23 EDTDOWDow Chemical CEO says cash could be used for buybacks
Dow Chemical CEO Andrew Liveris told CNBC that his company could use cash from today's deal for stock buybacks. He added that plans to separate Dow's chlorine value chain were in the works before Third Point's activist involvement.
09:37 EDTDOWActive equity options trading on open
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09:26 EDTDOWOn The Fly: Pre-market Movers
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07:41 EDTDOWDow Chemical jumps 4% to $48.86 after spin off of chlorine value chain
07:12 EDTDOWDow Chemical, Olin Corp. see deal closing by year-end 2015
Following the completion of the transaction, Olin (OLN) will be an industry leader in chlor-alkali and derivatives – benefiting from the combination of complementary businesses, significant scale, integration, cost-advantaged feedstocks, and a broad and diverse end-uses portfolio. Expected cost synergies of the transaction include network optimization which will facilitate output expansion, significant logistics savings and benefits, and the potential for expansion of existing products produced by Olin and Dow (DOW) into additional geographies and to additional customers. Annual revenues of the combined business are anticipated to be approximately $7B and EBITDA is expected to be $1B on a 2014 pro forma basis, excluding synergies. The transaction is subject to a vote by Olin shareholders and is expected to close by year-end 2015.
07:10 EDTDOWDow CEO says to exceed target to divest $7B-$8.5B of non-strategic assets
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07:05 EDTDOWDow Chemical says transaction 'highly accretive' to shareholders
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07:03 EDTDOWDow, Olin Corp. also enter into 20-year long-term capcity rights areement
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07:03 EDTDOWDow to merge chlor-alkali, downstream derivatives units with Olin
The Dow Chemical Company (DOW) and Olin Corporation (OLN) announced that the boards of directors of both companies unanimously approved a definitive agreement under which Dow will separate a significant portion of its chlorine value chain and merge that new entity with Olin in a transaction that will create an industry leader with revenues approaching $7B. The transaction has a tax efficient consideration of $5B, and a taxable equivalent value of $8B to Dow and Dow shareholders. It is highly complementary to the strategic objectives of both companies, with significant potential to enhance value for both Dow and Olin shareholders, and create substantial benefits for customers. The terms of the agreement call for Dow to separate its U.S. Gulf Coast Chlor-Alkali and Vinyl, Global Chlorinated Organics and Global Epoxy businesses, and then merge these businesses with Olin in a Reverse Morris Trust transaction. The merger will result in Dow shareholders receiving approximately 50.5% of the shares of Olin, with existing Olin shareholders owning approximately 49.5%. The transaction is valued at $5B, and includes $2B of cash and cash equivalents to be paid to Dow; an estimated $2.2Bin Olin common stock using the Olin stock value as of close on March 25, 2015; and approximately $800M of assumption of pension and other liabilities. In addition, by virtue of the joint share ownership, both sets of shareholders will benefit from a minimum of $200M in projected annual synergies and cost savings. The transaction is subject to a vote by Olin shareholders and is expected to close by year-end 2015.
07:02 EDTDOWDow Chemical, Olin Corp. deal valued at $5B
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07:01 EDTDOWDow to merge chlor-alkali, downstream derivatives units with Olin
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07:00 EDTDOWDow to separate 'significant' portion of chlor-alkali, downstream derivatives
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March 26, 2015
13:03 EDTMASmartMetric wins $3M fee dispute with Visa, MasterCard
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March 25, 2015
07:28 EDTMAVisa MasterCard should be bought on any weakness caused by currency, says Stifel
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March 24, 2015
07:27 EDTMATelsey Advisory to hold a conference
2015 Consumer Conference is being held in New York on March 24-25.
March 23, 2015
07:20 EDTMABarclays to hold a forum
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March 18, 2015
07:56 EDTDOWDow Chemical management to meet with Deutsche Bank
Field trip to company headquarters in to be held in Midland, MI on March 18 hosted by Deutsche Bank.
March 16, 2015
11:58 EDTDOWDuPont retreats after Bank of America two notch downgrade to sell
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10:50 EDTMAMasterCard, Itau Unitbanco announce new 20-year agreement
Itaú (ITUB) and MasterCard (MA) announced today the signing of a new 20-year agreement that further strengthens the long-term relationship between the two companies. As part of the agreement, Itaú and MasterCard will establish and operate a new electronic payments network in Brazil. In addition, Itaú will issue payment solutions including credit, debit and pre-paid cards as part of the newly created payments network and focus on enhancing the efficiency of their payment value chain. MasterCard will be responsible for managing the operations of the new network and transaction routing.
07:10 EDTMAWEX Inc. to receive MasterCard issuing license in Australia
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