Dow refiles Rohm and Haas acquisition in Europe

25 November 2008 17:32  [Source: ICIS news]

TORONTO (ICIS news)--Dow Chemical has refiled the application for approval of its $18.8bn (€14.6bn) acquisition of Rohm and Haas with the European Commission, it said on Tuesday.


The refiling was prompted by technical issues, Dow spokesman David Winder told ICIS news but stressed that completion of the deal remained on track for early 2009.


“Due to some technical issues with our European Commission filing, we removed our filing late on Friday, fixed the issues and have refiled with the European Commission on Monday.”


“There is no change to our timing. We remain on track to close the Rohm and Haas transaction in early 2009, which is consistent with what we have been saying since 10 July [when the deal was announced],” he added.


He did not comment on when the Commission would hear the case or grant approval.


According to media reports, the Commission extended the deadline for the deal's competition review to 8 January, from 15 December.


Rohm and Haas' shareholders approved the transaction last month.


($1 = €0.78)


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By: Stefan Baumgarten
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