Philly.com – Third Point L.L.C., the hedge fund led by the billionaire Daniel Loeb, has taken a stake in Dow Chemical Co. and called for a spin-off of its petrochemicals business to improve profitability.
Third Point’s stake in Dow is its largest current investment, the hedge fund said Tuesday in a letter to investors. Dow should hire external advisers to review its strategy and the potential benefits of a spin-off, Third Point said.
