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Dow and Rohm and Haas find agreement to close acquisition

Dow Chemical and Rohm and Haas say that they have reached an agreement to close Dow’s previously announced acquisition of Rohm and Haas on April 1, 2009.

This agreement resolves the litigation initiated by Rohm and Haas against Dow on January 26, 2009 when Dow said it would not be able to meet the initial deadline to complete proposed acquisition.

Rohm & Haas’s two largest shareholders, the Haas Family Trust and Paulson and Co., have agreed to buy US$ 2.5 billion of equity in Dow and an additional US$ 500 million if Dow needs it to mitigate its debt load.

All the other shareholders will receive US$ 78 per share, the same price that was agreed in July. “The restructuring of the terms of the transaction allows Dow to maintain financial flexibility”, said Andrew N. Liveris, Dow Chairman and CEO.

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© 2009 - Premium Beauty News -
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