NEW YORK, April 27- Expectations for chemical company earnings have been boosted by a combination of lower crude oil costs during the commodity's slump along with strong demand for plastics that are used to make everything from shampoo bottles to grocery bags. Last week, LyondellBasell Industries beat consensus estimates, and estimates for Westlake... » Read More
CNBC's Julia Chatterley reports from Basel on Syngenta and the takeover deal by ChemChina, a Chinese state-owned company.
ChemChina is nearing a deal to take over Syngenta for around $42 billion, two people familiar with the matter told Reuters.
Axiall said on Friday that it had rejected Westlake's $1.4 billion takeover offer, saying it undervalued the company- an argument that Brigade Capital agreed with. Brigade Capital said in a letter to Axiall's board that it opposed the use of a "poison pill" with respect to Westlake's offer of $20 per share. Axiall shares were down 2.6 percent at $17.46 in afternoon...
Westlake, a Houston- based manufacturer and supplier of petrochemicals, polymers and building products, had argued that the combined company would be more diversified and have a stronger financial profile than Axiall on its own. Westlake revealed earlier on Friday that on Jan. 25 it had offered $11 per share in cash and 0.1967 of its stock for each Axiall share.
Dow Chemical and DuPont are expected to announce a merger of equals by Thursday, sources told CNBC.
Dow reported a better-than-expected quarterly profit, helped by higher margins in five of its six units.
Stable, low oil prices are good because the drop in crude is supply-driven and will act as stimulus, Dow Chemical CEO Andrew Liveris tells CNBC.
DuPont reported a 52 percent jump in profit as operating margins rose in five of its seven businesses.
Investors seeking steady gains on innovation should look past tech buzz. When R&D productivity is measured, 'boring' stocks often lead.