Rank: 38 (Previous rank: 42)
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CEO: Andrew N. Liveris
Address: 2030 Dow Center
Midland, MI 48674
As Dow Chemical digests its $16.3 billion purchase of higher-tech rival Rohm & Haas, some analysts worry that the growth comes at too high a price. Originally portrayed as a triumph for Dow chairman Andrew Liveris, the Rohm & Haas deal now threatens to overload the company with debt at a time when it faces slumping chemical prices.
Dow tried to back out of the deal after the cancellation of a Kuwait joint venture that would have provided $9 billion in financing. Rohm & Haas eventually sued Dow to force the company to proceed with its offer. In March, Dow capitulated, reaching a last-minute agreement before the case was set to go to trial. - S.K.
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