BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Dow Chemical (DOW) to sell Morton Salt for $1.675 billion]]>http://www.bloggingstocks.com/2009/04/02/dow-chemical-dow-to-sell-morton-salt-for-1-675b/http://www.bloggingstocks.com/2009/04/02/dow-chemical-dow-to-sell-morton-salt-for-1-675b/http://www.bloggingstocks.com/2009/04/02/dow-chemical-dow-to-sell-morton-salt-for-1-675b/#commentsFiled under: , , , , ,

DOW logoDow Chemical (NYSE: DOW - option chain) shares are headed higher today after the company closed its acquisition of Rohm & Haas. This allows DOW to announce today it plans to sell Morton Salt to German company K+S Aktiengesellschaft for nearly $1.7 billion. This will help DOW stabilize its finances, which were left in a lurch when Kuwaiti financing on the Rohm & Haas deal fell through. Left out in the cold in this deal is Compass Minerals International (NYSE: CMP), a salt company that had been expected to get a bid from K+S. If you think that DOW won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on that stock.

DOW opened this morning at $9.46. So far today the stock has hit a low of $9.25 and a high of $9.75. As of 12:05, DOW is trading at $9.69, up 88 cents (10.0%). The chart for DOW looks neutral and S&P gives DOW a 3 STARS (out of 5) hold ranking.

Continue reading Dow Chemical (DOW) to sell Morton Salt for $1.675 billion

Dow Chemical (DOW) to sell Morton Salt for $1.675 billion originally appeared on BloggingStocks on Thu, 02 Apr 2009 12:50:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>CMPCompass MineralsCompassMineralsdealDOWDow ChemicalDowChemicalinthenewsInvestors ObserverInvestorsObserverK SMorton SaltMortonSaltoptionsrohm and haasRohmAndHaasThu, 02 Apr 2009 12:50:00 EST