Email this postDuPont: We'll be buyers, not sellers
Analysts queried CEO Charles O. (Chad) Holliday Jr. about DuPont's M&A plans in today's 2q earnings conference call.
Kevin McCarthy, BofA: "The chemical industry is seeing two large multi-billion dollar deals so far this month (Dow-Rohm and Haas; Ashland-Hercules)...You've said, credit market dislocations may provide some opportunity... Could you elaborate on DuPont's latest thoughts?"
Holliday, DuPont: "Look at our 2010 forecast. We'll be looking for acquisitions to get to that. We've been net divestors over the last several years as we cleaned our portfolio... It's the right time to adjust for that...
"But again, we are not talking about some big massive acquisition, we think that would be very disruptive."
DuPont shares rose $1.16 to $45.21 today after posting strong 2q numbers. DuPont earnings info here.
Kevin McCarthy, BofA: "The chemical industry is seeing two large multi-billion dollar deals so far this month (Dow-Rohm and Haas; Ashland-Hercules)...You've said, credit market dislocations may provide some opportunity... Could you elaborate on DuPont's latest thoughts?"
Holliday, DuPont: "Look at our 2010 forecast. We'll be looking for acquisitions to get to that. We've been net divestors over the last several years as we cleaned our portfolio... It's the right time to adjust for that...
"But again, we are not talking about some big massive acquisition, we think that would be very disruptive."
DuPont shares rose $1.16 to $45.21 today after posting strong 2q numbers. DuPont earnings info here.
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