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Dow Chemical and DuPont Are Said to Be in Merger Talks

first_img Facebook Twitter Home Midwest News Dow Chemical and DuPont Are Said to Be in Merger Talks SHARE Dow Chemical and DuPont, two of the biggest and oldest companies in the American chemical industry, are in talks to merge in what would be one of the largest transactions in a year full of huge deals, people briefed on the matter said on Tuesday. Under the terms being discussed, a merger of the two companies, each with a market value of roughly $60 billion, could eventually be followed by a breakup of the company, two of these people said.Combined, the two companies would be the second-biggest chemical company in the world, in terms of revenue, after BASF of Germany, with more than $92 billion in annual sales. The next step being discussed would be to break up the merged company into three businesses: agricultural chemicals, specialty products, and materials like plastics. An announcement could come soon, these people added, while cautioning that talks were incomplete and could still collapse.Each company has come under attack from activist investors unhappy with its financial performance. Last year, Dow settled a brief but bitter dispute with Daniel S. Loeb, the billionaire who runs the hedge fund Third Point, by adding four independent directors. And this May, DuPont, formally E.I. du Pont de Nemours & Company, successfully fended off a board challenge by Nelson Peltz, dealing the billionaire financier his first loss since he opened his current firm, Trian Fund Management, a decade ago.Bloomberg reports that  a mega-merger between Dow Chemical Co. and DuPont Co. stands to have far-reaching consequences for European rivals, prompting a series of follow-on combinations as the pesticide and seed makers scramble to face the emergence of a US giant. The focus in Europe on Wednesday quickly turned to Switzerland’s Syngenta AG, which almost four months ago fended off a $46 billion bid from Monsanto Co. Last month, people with knowledge of the matter said China National Chemical Corp. was initially rebuffed in an approach to buy the world’s biggest producer of pesticides in what would be the largest acquisition ever by a Chinese company.A Dow and DuPont merger “makes it more likely that Monsanto re-approaches Syngenta,” Bernstein analysts including Jonas Oxgaard wrote in a note Wednesday. The bid could be at 485 Swiss francs, more than the 470 cash-and-stock offer withdrawn in August.Warren Buffett will also be watching the merger talks closely. Mr. Buffett’s Berkshire Hathaway owns a big slug of preferred shares in Dow Chemical. Berkshire got the shares in 2009, when Mr. Buffett’s company gave Dow $3 billion to help finance its purchase of chemical maker Rohm & Haas Co. In return, Berkshire received preferred stock that pays an 8.5% annual dividend.Alan Murray with Fortune says the merger is not good for America, “Unless you are an investment banker, it’s hard to feel good about the deal to merge Dow and DuPont, two storied American science companies with 330 years of history between them. The plan is to combine the two $60 billion companies and then break them apart again, creating three more ‘focused’ companies in agriculture, materials science, and specialty products.” Facebook Twitter Dow Chemical and DuPont Are Said to Be in Merger Talks Previous articleMorning OutlookNext articleMidday Update Gary Truitt SHARE By Gary Truitt – Dec 9, 2015 last_img read more

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Leading inventories service and Reapit integrate for ‘faster check-outs’

first_imgInventories streamlining service Inventory Hive has integrated with Reapit via its Foundations platform, enabling letting agents who use both services to check tenants in and out of properties faster.The integration is major coup for Inventory Hive, whose service will now be able to synchronise its data with the 180,000 tenancies that are completed via Reapit every year.Inventory Hive uses tech to automate many of the tiresomely repetitive tasks required when completing an inventory, which will be made even quicker now that the two platforms can share data.Real time inventories“For example, it will allow – after the data is imported – for any changes on the Reapit platform to be mirrored and appear identically on Inventory Hive in real time,” says its CEO Rich Abbots, (pictured)“This means when clients import properties with images, or import tenancies with tenants or any other type of update – if it is carried out via the Reapit CRM – these things will show up on the Inventory Hive site, or vice versa.“Essentially, anyone on the Inventory Hive platform can install their add-on which will allow them to add a property, or a tenancy and it will appear immediately.”Inventory Hive is already integrated into several property maintenance platforms including Fixflo and The Depository.Reapit’s Foundations platform gives agencies the ability to customise and choose tools to expand their CRM software as they see fit, by either designing their own applications or installing apps from leading PropTech partners in the App Marketplace such as Inventory Hive.Rich Abbots inventories Inventory Hive Reapit The Depository Fixflo April 9, 2021Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Leading inventories service and Reapit integrate for ‘faster check-outs’ previous nextProducts & ServicesLeading inventories service and Reapit integrate for ‘faster check-outs’Both platforms can now talk to each other digitally, enabling letting agents to access common data and complete inventories more quickly.Nigel Lewis9th April 20210390 Viewslast_img read more

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