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Loeb Plans to Solicit Dow Chemical Shareholders

Third Point LLC, the hedge fund founded by Daniel Loeb, escalated its campaign to force changes at Dow Chemical Co. with a plan to solicit support from other shareholders.

Third Point said today in a filing that Steve Miller, chairman of American International Group Inc., and Ray Milchovich, former chairman and chief executive of Foster Wheeler AG, were paid $250,000 each to be director nominees in a future proxy solicitation.