On Thursday, Shares of The Dow Chemical Company (NYSE:DOW), gained 1.04% to $42.83.
The Dow Chemical Company declared that it has commenced its exchange offer for the split-off of a noteworthy portion of its chlorine value chain. The split-off transaction is the next step in the separation, from Dow, of its U.S. Gulf Coast Chlor-Alkali and Vinyl, Global Chlorinated Organics and Global Epoxy businesses. The exchange offer provides Dow shareholders with the opportunity to exchange their shares of Dow common stock for shares of Blue Cube Spinco Inc. common stock, which will convert into shares of Olin common stock upon completion of the projected transaction. The exchange is predictable to be tax-free to participating Dow shareholders for U.S. federal income tax purposes.
“This landmark transaction is the latest in a series of milestones we have achieved that enables Dow to significantly exceed our collective divestiture targets, and enables Olin to create a premier chlor-alkali and derivatives company with the scope and capabilities to leverage long-term growth opportunities and generate noteworthy shareholder value,” said Andrew N. Liveris, Dow’s chairman and chief executive officer. “This exchange offer is designed to maximize total shareholder return through the ability to own shares in the combined company, which is predictable to benefit from substantial synergies and create noteworthy benefits for customers.”
The Dow Chemical Company manufactures and supplies products that are used primarily as raw materials in the manufacture of customer products and services worldwide. It operates through Agricultural Sciences, Consumer Solutions, Infrastructure Solutions, Performance Materials & Chemicals, and Performance Plastics segments.
Shares of Bristol-Myers Squibb Company (NYSE:BMY), declined -1.44% to $58.75, during its last trading session.
Bristol-Myers Squibb Company declared data from its Immuno-Oncology clinical development programs to be presented at the 16th World Conference on Lung Cancer (WCLC) in Denver, CO from September 6-9. The company is presenting Opdivo (nivolumab) data in a broad set of patients with lung cancer, across histologies and treatment settings. These data add to the growing body of evidence that may assist the scientific community advance their understanding Opdivo’s role in the treatment of lung cancer as a single agent and its potential in combination with Yervoy (ipilimumab). Key oral presentations comprise:
- CheckMate -012, September 7 during the 10:45am -12:15pm MDT Session: Safety and Efficacy of First-Line Nivolumab and Ipilimumab in Non-Small Cell Lung Cancer
- CheckMate -017, September 7 during the 10:45am -12:15pm MDT Session: Phase 3, Randomized Trial of Nivolumab vs Docetaxel in Advanced Squamous Cell Non-Small Cell Lung Cancer
- CheckMate -063, September 7 during the 10:45am -12:15pm MDT Session: Longer-Term Follow-Up of a Phase 2 Study of Nivolumab in Patients with Advanced, Refractory Squamous Non-Small Cell Lung Cancer
- CheckMate -153, September 7 during the 10:45am -12:15pm MDT Session: Safety and Efficacy of Nivolumab in an Ongoing Trial of a PD-L1+/- Patient Population with Metastatic Non-Small Cell Lung Cancer
- CheckMate -017, September 9 during the 9:00am - 4:45 p.m. MDT Session: Evaluation of Disease-Related Symptoms in Patients with Advanced Squamous Non-Small Cell Lung Cancer Treated with Nivolumab or Docetaxel
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It provides chemically-synthesized drugs or small molecules, and biologics in various therapeutic areas, counting virology comprising human immunodeficiency virus infection (HIV); oncology; neuroscience; immunoscience; and cardiovascular.
Finally, Sysco Corporation (NYSE:SYY), ended its last trade with 0.35% gain, and closed at $39.91.
Sysco Corporation declared that it will webcast presentations from its Investor Day startning at 12:45 p.m. (Eastern), Tuesday, September 15.
Sysco Corporation, through its auxiliaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry.
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