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Monday, September 05, 2016

Did Foundation Donor Dow Chemical Seek Hillary "Favor" To Settle $9 Billion Lawsuit With Kuwait?

Just yesterday we reported on how back in 2009 Bill Clinton pushed for a meeting between Hillary and the CEO of Dow Chemical, a $1-$5mm donor to the Clinton Foundation (see "New Hillary Emails Expose Bill Pushing Meetings With Foundation Donors, Requests For "Diplomatic Passports""). As it turns out, Andrew Liveris, CEO of Dow Chemical, probably had a lot to discuss with Hillary around that time including the failure of a joint venture between Dow Chemical and Kuwait (ironically a $5 - $10mm donor to the Clinton Foundation) that cost Dow $9BN.

Here are the background facts leading up the July 2009 meeting between Andrew Liveris and Hillary Clinton.

Back in July 2008, Dow Chemical made a $15 billion cash bid for rival Rohm and Haas. Per CNBC, the deal was to be partially funded by a $3 billion equity injection from Hillary supporter, Warren Buffett...

Warren Buffett's Berkshire Hathaway is helping to finance Dow's just-announced deal to buy specialty chemical maker Rohm and Haas for over $15 billion in cash. Berkshire is contributing an equity investment in the form of $3 billion worth of convertible preferred securities.

...and another $9BN from the proceeds of a Dow joint venture with Kuwait. Per PR Newswire, Dow Chemical's JV with Kuwait, also signed in July 2008, would have netted $9BN of proceeds to Dow.

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