06 March 2009 18:49 [Source: ICIS news]
Neither company would comment further on the talks, Dow said.
Dow's confirmation follows a report from CNBC, which said that the two sides were in settlement talks.
The companies were considering a proposal from two Rohm and Haas shareholders, the Haas Family Trust and Paulson & Co, CNBC reported. Under the proposal, the shareholders would invest their proceeds from the merger into Dow.
Stocks for both companies spiked following reports of the discussions.
Dow was trading at at $7.02/share as of 13:01 hours New York time (18:01 GMT) on the New York Stock Exchange, up 8.42%. Rohm and Haas was trading at $62.46, up 15.65%.
($1 = €0.80)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections