Dow Chemical Co. (NYSE:DOW) shares moved up $1.23, or 2.73%, to $46.32 today after the company announced that it had fired two longtime executives, including the company's former finance chief, who it said were involved in unauthorized discussions with third parties about the potential acquisition of the company. Dow said it learned of the misconduct on Tuesday and its board was informed on Wednesday. The news comes after rumors of a $50 billion leveraged buyout surfaced in a British tabloid newspaper, the Sunday Express in London, earlier this week. While the company immediately discounted the report and voiced its opposition to a buyout, shares still rallied up 7% on Monday and a further nearly 3% today. Clearly, this event makes the story more interesting and the possibility of something happening behind the scenes more likely. However, given Dow's resistance to any buyout, it is not likely that any deal will be closed for quite some time. So, while this may be a stock to watch, it may be too early to take any action.

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