Dow delays Rohm and Haas acquisition

Published: 29-Jan-2009

The Dow Chemical Company confirmed this week that its proposed acquisition of Rohm and Haas would not be closed on or before 27 January 2009. The company has cited “unacceptable uncertainties” surrounding the funding and economics of the combined enterprise as the reason for its decision. This assessment is based on the effects of the global financial crisis combined with what Dow calls the “dramatic and stunning” failure of Petrochemicals Industries Company of Kuwait to fulfil its obligation to complete the formation of the K-Dow joint venture in December 2008.


The Dow Chemical Company confirmed this week that its proposed acquisition of Rohm and Haas would not be closed on or before 27 January 2009. The company has cited “unacceptable uncertainties” surrounding the funding and economics of the combined enterprise as the reason for its decision. This assessment is based on the effects of the global financial crisis combined with what Dow calls the “dramatic and stunning” failure of Petrochemicals Industries Company of Kuwait to fulfil its obligation to complete the formation of the K-Dow joint venture in December 2008.

However chairman and ceo Andrew N Liveris stressed that Dow’s long term strategy, which includes the acquisition of Rohm and Haas, remains unchanged.

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