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Dearth of Deals Is a Real Downer

By Jim Cramer

 About this article:
 Deals aren't getting done, and that means that we are sinking further into the notion that there is no real value at these levels -- or at least the dealmakers don't think there is. I am talking about the astounding collapse of the Dow Chemical deal coupled with the concomitant potential collapse of the Rohm & Haas deal. The Kuwait walk-away says, "We don't have the capital to complete this," which is astounding given the endless proclamations that the deal is fine from both sides. What worries me so much about this deal is that Dow Chemical is the biggest user of nat gas in this country, so it is actually a gigantic beneficiary of what is going on. The company is hardly on the ropes. The chemicals that the deal was supposed to make also were beneficiaries in cost. My takeaway: The only support in...

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