Movers: Dow Chemical, Rohm & Haas, Ford, Nokia
Dow Chemical (DOW) says the Kuwait Supreme Petroleum Council (SPC) reversed its prior approval of the agreement between Dow and Petrochemicals Industries Co. to enter into K-Dow Petrochemicals, a planned 50-50 joint venture company. According to newswire reports, the proposed joint venture would have provided Dow with approximately $9 billion that Dow was to put toward its planned acquisition of Rohm & Haas (ROH). S&P maintains sell opinion on DOW; Barclays downgrades the stock to equal-weight from overweight.
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