Earlier, it was being reported that Mukesh Ambani planning to go for a $12 billion take over plan that was being called as the mother of all acquisitions. However, the report says now that Mukesh Ambani have decided to go slow and to put on hold his dream to take controlling stake in Dow Chemicals’ plastic and chemical business.

Ambani took the decision to go slow because the major players of equity market in the world such as Carlyle, Blackstone and KKR have decided to jump in the race and showing their interests to get their hands on the business.

During the bargain, the numbers that Dow and Reliance Industries (RIL) had agreed on over more than three months of hectic negotiations have come quite unsettled. The report says that Mukesh Ambani returned back to Mumbai and told his top level managers that the Dow deal now looks distant.

Now, Dow is planning to go for more than 60 deals as part of a plan to reduce broad based fluctuations in the company’s earnings. Dow may team up with RIL in some small joint ventures to create a new business model for polystyrene and polypropylene-resin production.

However, the RIL’s original plan was to create a special purpose vehicle (SPV) abroad and buy a controlling stake of 51% in Dow’s chemical and plastic business.

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