NewsFlashDow, Rohm and Haas settle suit, to close deal

09 March 2009 20:34  [Source: ICIS news]

HOUSTON (ICIS news)--US major Dow Chemical will acquire Rohm and Haas for $78.00/share (€61.62/share) under a settlement the two sides reached on Monday, Dow said.

The settlement matches Dow's initial offer for the company. However, Dow restructured the composition of the deal.

Under the terms, Dow will pay $63/share in cash and $15/share in preferred equity securities, the company said. Dow has a 1 April deadline to close the deal.

The two largest shareholders of Rohm and Haas will also buy $2.5bn of equity issued by Dow. In addition, the Haas Family Trusts has agreed to make an investment in an additional $500m of Dow's equity.

($1 = €0.79)

For more on Dow or Rohm and Haas visit ICIS company intelligence
To discuss issues facing the chemical industry go to ICIS connect

By: Al Greenwood
+1 713 525 2645

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