Is Ms. Ellen J. Kullman, DuPont Chieftess, Doing A 180 and Looking At (Gasp!) Nasty Ole CHEMICALS??
Good Morning, Bonjour, Guten Tag, Ni Hao,
Friends, we have watched with much amusement as DuPont's prissy "leaders" turned their pampered backs on chemicals in the 21st century, and pretended DuPont was some sort of bio-boutique, and an elite "science and technology" outfit.
Now comes a report from Reuters, 8:48 AM EDT, July 6, 2012, that DuPont might be checking out France's leading chemical corporation for possible acquisition. The company and maker of industrial chemicals is Arkema and it has 14,000 employees. Arkema is currently valued @ circa 5.5 billion euros, or roughly $7 billion, about the same price as Ms. Kullman's over-priced purchase of a second-level food additives corporation, Danisco, last year.
It strikes us as comical that Ms. Kullman's old-line, over-leveraged French chemical company in Delaware U. S. A. might gobble up the leading French chemical company in Europe. Back to industrial chemicals after all these years of running to the kitchen and turning up her nose at smelly chemicals and auto paints? Ms. Kullman, Pulllllease...
Merely the morning commentary of one individual investor, and long-time student of the dysfunctional DuPont.