415. Ashland Chemical, the largest U.S. chemical distributor, acquired chemical manufacturer, Hercules Inc., for $3.3 billion in

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4–15. Ashland Chemical, the largest U.S. chemical distributor, acquired chemical manufacturer, Hercules Inc., for $3.3 billion in 2008. This move followed Dow Chemical Company’s purchase of Rohm & Haas. The justification for both acquisitions was to diversify earnings and offset higher oil costs. How will these combinations offset escalating oil costs?

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