But I have a great welcome back item - the announced merger of Dow and DuPont. Both of these companies have a lot in common. They are both huge. Their names both start with the letter "D". And they both have had to put up with activist investors in the last year or two.
Dow was the first to be attacked from "within", in this case by Daniel Loeb (1, 2, 3, 4, 5 and 6). That all ended when Dow and Loeb and declared a truce just over a year-ago. In a classic case of monkey-see, monkey-do (a phrase that in this case insults monkeys, even really dumb monkeys), Dupont was then attacked from within by Nelson Peltz (1, 2, 3 and 4) before finally losing his proxy battle.
But both of these guys are still hanging around the picture, which then raises the biggest question in my mind about the merger: which activist investor will be the top dog afterwards? Everyone is far more concerned concerned about government approval for the deal, but what about the undercard: Loeb vs. Peltz? As big as this new company will be, it still will not be big enough for these two mega-egos. One of them will have to go.
My proposal: a cage match!
"Grace, get me Loeb on the phone right away. Oh, and start dialing up that Peltz guy too. We're going to do lunch..."