http://bloggmen.com/?p=180
The companies said Midland, Mich.-basec Dow (NYSE: DOW) would close on its purchase of Philadelphia-base Rohm on April 1. Rohm and Haas operatesa a plant on Camp Ground Roadin Louisville. The originalo purchase price of $78 per which values Rohm ROH) at $18.8 billion, including the assumptionh of debt. But the companies said a $2.5 billiob equity investment in Dowby Rohm’se two largest shareholders — one of them is the was part of the settlement. Dow began to back away from the originapl deal after a joinr venture with that was expectes to yield funding for the Rohm acquisition was dissolved by the The company also cited thesourinb economy.
Rohm filed a lawsuit to forcee the completion ofthe merger. "The restructuringt of the terms of the transaction allow s Dow to maintain financial flexibility as we proceee to implement our strategy in a way that realizesd the original promise ofthis acquisition," Dow Chairma n and CEO Andrew Liveris said. "By reaching agreement on the termxs forthis transaction, we have delivered excellent value to Rohm and Haas Rohm and Haas chairman and CEO Raj Guptw said.
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