How now Dow Chemical? Activist investor Dan Loeb says Dow Chemical should divide into two firms as it pursues its goal of transforming itself into a specialty chemicals company. Loeb runs Third Point Management, Midland, MI, which has a big stake in Dow Chemical. Specifically, the company should split into a more profitable Dow Petchem Co. and a “true” specialty firm called Dow Specialty Co., according to the investment letter. “Dow's petrochemical operational strategy...