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Dow, Dupont stock boosted by talk of possible merger
HOUSTON, December 9, 2015 (PCW) -– The stock prices of Dow Chemical and Dupont continued to be boosted strongly by reports of a possible merger between the twp petrochemical giants.
As of 1130 am Central, Dow’s stock was up $5.16, or 10.14%, to $56.06/share. Dupont’s stock was up $7.35, or 11.04%, to $73.96/share. Both stocks were trading amid much larger-than-average volumes.
Reports have stated the two companies could announce the merger as soon as Thursday.
Both companies’ earnings have been hit hard over the year due to lower commodity prices and weaker agricultural demand. Additionally both companies have faced massive investor pressure in the form of proxy battles for board seats.
A few months ago, Dupont CEO Ellen Kullman left the company amid a loss in investor confidence. -– Samantha Hartke