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Third Point takes Large Position in Dow and Seeks Spin-off of Petrochemical Business

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According to a report from CNBC, Daniel Loeb’s Third Point has acquired a stake of $1.3 billion in Dow Chemical Company (NYSE:DOW).  With the stake, Third Point is calling for Dow to spin-off its petrochemical business. The spin-off according to Third Point would generate significant added value for Dow. Shares of Dow are soaring this morning on the news. Dow is now Third Point’s largest investment position within its fund.