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Dow Chemical Ups Asset Sale Target by Up to $2B

Dow Chemical Co said it aimed to raise up to $6 billion from asset sales, $1.5 billion to $2.0 billion more than its earlier target, to focus on electronics, agriculture and packaging.Dow Chemical is under pressure from hedge fund titan Daniel Loeb to spin off its lucrative but slow-growing petrochemical unit and focus on specialty materials, but the company is reluctant to split the two businesses.The company has repeatedly defended its strategy of using its commoditized raw materials businesses to keep costs down at its high-growth specialty chemicals businesses.Dow Chemical, which said in October that it would sell its epoxy business and some chlorine and derivatives assets, said on Wednesday it also planned to sell some non-core operations.The company did not specify which assets, but said they would likely be from its electronic and functional materials and performance materials units - two of the company's slowest-growing businesses."There are markets where we are minor ... We ar...

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