Dow gains full ownership of Dow Corning

摘要

Dow Chemical will become the 100% owner of Dow Corning, which has operated as a 50-50 joint venture with Corning since 1943. Corning will receive $4.8 billion for its stake and retain a part ownership in Hemlock Semiconductor, a leading maker of polysilicon controlled by Dow Corning. Dow Coming's operations are expected to become part of the material science company that will be created by the merger of Dow and DuPont and the subsequent planned three-way split of the combined company. The deal values Dow Corning at a multiple of 10.8 based on 2016 estimated silicones Ebitda, Dow says.