Dow Chemical Co. executives have no interest in a leveraged buyout, said Andrew Wood, Dow spokesman. But Mr. Wood would not comment on details of a report by a British tabloid newspaper that the chemical company would receive a bid this week of $52 to $58 a share from a consortium led by Kohlberg Kravis Roberts. KKR officials declined comment, according to Ruth Pachman, spokeswoman.
The buyout would be the largest ever, second only to the pending $32 billion buyout of TXU Corp., a Dallas utility company. Shares of Dow Chemical rose 4.9% in trading Monday on the New York Stock Exchange, closing at $46.63.
This story was originally reported Monday afternoon on Pensions & Investments website, www.pionline.com.