A Dow-DuPont Merger Would Raise Big Questions

The news that Dow Chemical and DuPont, two of America’s oldest industrial corporations, are close to agreeing on a merger can hardly be regarded as big surprise. In recent years, both companies have been targeted by Wall Street hedge funds looking to make a score. And, a couple of months ago, DuPont appointed a new chief executive, Edward Breen, who is known as a deal maker, having disassembled the conglomerate Tyco International after its C.E.O., Dennis Kozlowski, was arrested and jailed.

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