Dow Chemical agrees with Third Point to add 4 board members

Dow Chemical Co said it would add four independent directors to its board as part of an agreement with hedge fund Third Point LLC.

The four directors will be included in Dow's nominees for election at the 2015 annual meeting.

Reuters reported earlier this week that Third Point was considering a proxy contest after negotiations over board seats with the largest U.S. chemical company broke down on Thursday, citing two sources familiar with the talks. (Reporting by Sayantani Ghosh in Bangalore; Editing by Joyjeet Das)