Dow Chemical announced on Friday it will split off its chlorine business in a $5 billion deal. TheStreet’s Jim Cramer says this is an amazing opportunity to buy the stock well below where he thinks it’s going to trade literally in the next couple of quarters. Cramer says Dow Chemical is going through a transformation. It’s going from being a commodity chemical company to being a proprietary chemical company. He says this is a good time to get in because this is a company that is going to get $5 billion in cash, it’s going to be able to buy back a huge amount of stock, raise the dividend, give it a 18 multiple on what he thinks is $5 in 2017 and you can see where this stock is going which is a double from where it is over the course of the next two years. Dow Chemical is a core holding in Jim Cramer’s Action Alerts PLUS charitable trust portfolio.
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