On December 7, 2016, Scott Stoffel, divisional vice president of external communications at Abbott Laboratories, noted, “Alere is no longer the company Abbott agreed to buy 10 months ago.”
Three months after announcing a $5.8 billion deal in which Abbott Laboratories (ABT) would buy Alere (ALR), Alere rejected Abbott’s $50 million offer to end the deal. On December 7, Abbott sued Alere to terminate the deal.
As of December 5, Dow Chemical traded at a one-year forward PE multiple of 14.10x. DuPont is trading at a one-year forward PE multiple of 19.80x.
As of December 5, 75% of the analysts recommended Dow Chemical as a “buy,” 20% recommended it as a “hold,” and 5% recommended it as a “sell.”
Dow Chemical is the largest foreign investor in Saudi Arabia. It was the first company to receive a trading license from Saudi Arabia’s government.
Dow Chemical (DOW) stock had a decent performance in November. It closed at $55.72—a gain of ~3.60% for the month ending November 30, 2016.
As of December 2, 2016, 20 brokerage firms were actively tracking Sherwin-Williams (SHW) stock. About 65.0% of them have recommended a “buy” for the stock.
On November 9, 2016, Sherwin-Williams (SHW) announced the opening of its 100th Chicagoland retail store in the Bucktown neighborhood.
Sherwin-Williams (SHW) stock had a strong performance in November, closing at $268.67 and rising a whopping 9.7%.
On November 29, 2016, Praxair (PX) said in a press conference that it had approached Linde AG to talk about a possible merger.
On November 28, 2016, Air Products & Chemicals (APD) announced that it had entered into a new contract with Grupa Azoty Zakłady Azotowe Kędzierzyn.
In this series, we’ll discuss the latest business updates and announcements made by chemical companies during the week ended December 2, 2016.
On November 21, 2016, Westlake Chemical (WLK) announced a fourth quarter dividend of $0.19 per share.
Eastman Chemical’s interest expense In the first three quarters of 2016, Eastman Chemical’s (EMN) interest expense hovered between $63 million and $64 million per quarter. In the first nine months…
Eastman Chemical’s (EMN) debt had been falling up to the end of 3Q16. At the beginning of 1Q16, Eastman Chemical’s debt stood at $7.08 billion.
On November 18, 2016, LyondellBasell (LYB) declared a fourth quarter dividend of $0.85 per share.
On November 15, 2016, Huntsman (HUN) announced that it had refinanced its term loan B due in 2021 and term loan B due in 2023.
On September 22, PPG Industries (PPG) reached an agreement to sell its 50% stake in its two PFG fiber glass joint ventures to Nan Ya Plastics.
As of November 18, 2016, Eastman Chemical closed at $74.18, down 1.4% for the week.
On November 16, Air Products and Chemicals (APD) announced a dividend of $0.86 per share for 1Q17.