Today in Market History
The Irrelevant Investor
JULY 6, 2018
On July 6, 1981, Du Pont, the nation's largest chemical manufacturer, announced its intentions to pursue oil giant Conoco. 80% of Du Pont's products were based on petrochemical feedstocks, and when the energy crisis hit in the early 70s, Du Pont was exposed to serious losses. Its profits fell from $586 million in 1973 to $273 million in 1975, a decline of 53%.
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