Dow, Execs Reach Settlement In Botched-Sale Case

Law360, New York (June 3, 2008, 12:00 AM EDT) -- Two executives who allegedly plotted to sell Dow Chemical Co. without the participation of its board agreed on Monday to a settlement with the company, conceding in a joint statement that they should have kept other members informed about the possible deal.

In a victory for Dow, Romeo Kreinberg and J. Pedro Reinhard acknowledged that they erred in not telling the board when they began negotiations to sell the company, and their firings were thus “appropriate under the circumstances.”

Kreinberg, who lead the plastics and chemical...
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