Dow Chemical Seeking Acquisitions, CEO Tells CNBC
Dow Chemical is looking to make acquisitions, but the amount of private-equity money floating around has made lots of businesses in chemical sector expensive, the company's chief executive told CNBC.
"Given the fact that we've had some cyclical behavior in the past, we're gearing up for our futures by looking at accretive M&A," Dow CEO Andrew Liveris said on "Squawk Box."
"This company is ready to do accretive deals at the right price for the right synergies," he added.
But "the private equity guys have really pulled the multiple up on this market," Liveris said, adding that if there is a downturn in the next few year, there may be a lot more businesses available at better prices.
Liveris didn't mention any specific targets or businesses, and he declined to say whether Dow was interested in buying General Electric's plastic business, which the conglomerate is trying to shed. GE is the parent of CNBC.
Thursday morning, Dow Chemical reported a profit, excluding non-recurring items, of 98 cents a share, beating the analysts' consensus estimate by 5 cents a share.