Buyout Talk Lifts Dow Chemical
The stock rises more than 7%.
Dow Chemical's
(DOW) - Get Report
shares were on the rise after a British tabloid reported for the second time in recent weeks that the company could be a buyout target.
England's
Sunday Express
, following its earlier report in February, said a group of Middle Eastern investors and U.S. buyout firms including Kohlberg Kravis Roberts are getting ready to offer around $50 billion for Dow.
The investor group has lined up financing for the bid, which would be valued at $52 to $58 a share, the report said. If a deal is reached, it would be the biggest leveraged buyout ever.
Shares of Dow were gaining 7.3% to $47.70 in premarket trading Monday.
