Dow Chemical has responded to the efforts of Dan Loeb’s Third Point Capital’s bid to sell its low margin units to focus on higher margin assets. Latest effort is selling unit to Olin in a transaction worth $5 billion, including $2 billion in cash. Under the deal, Dow will sell its U.S. chlorine operation to Olin. Chlorine is a compound that’s often used as table salt. The sale is part of a broader effort by Dow to unload up to $7 billion in low-margin assets in response to calls from Third Point to reorganize its business, and continues a trend that has seen activists lobby for change.
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