You won't get away with this doing what I always wanted in the first place.
If all you knew about Dan Loeb was that he is a hedge fund manager invested in Dow Chemical, you might think he’s a pretty happy guy right now. After all, the proposed Dow-DuPont merger made him and his clients instantly $141 million richer. He’s already lined up behind the deal, which will eventually give him the spinoffs he’s so long craved. But if that’s what you though, you’ve just proven how little you know about Dan Loeb.
You see, good as the deal is for Loeb and Third Point, two things stick in Dan’s craw. One is that the hateful, incompetent and soon-to-be-former Dow CEO Andrew Liveris—who had the unmitigated gall to tell Dan Loeb where to stick it—will continue to draw a paycheck from the combined DowDuPont as executive chairman. Second is timing: Namely, that the wily and wicked Liveris made sure to announce the deal two days before he and Loeb’s ceasefire agreement expired, meaning that Dan had spent weeks crafting really top-shelf ad hominem insults in vain. This will not stand, and those insults shall not go unused.
Mr. Loeb’s letter, reviewed by The Wall Street Journal, questions whether the deal was rushed to be completed before a so-called standstill agreement barring him from publicly speaking about Dow expired this weekend….
Mr. Loeb privately threatened earlier this month to start a new campaign once he was free to do so, the people familiar with the matter said. He called the company’s shareholder returns "woeful” and called for a search committee to be formed to identify a new chief executive, the people said….
“He should not have any role in the post-merger entity,” Mr. Loeb wrote of Mr. Liveris. Giving him the executive chairman title “is a slap and an insult to Dow shareholders,” he wrote.