Dow Chemical to acquire Rohm and Haas
This article was originally published in Scrip
Dow Chemicalhas reached a definitive agreement to acquire the speciality chemical company Rohm and Haasfor more than $15 billion, to create the world's leading speciality chemicals and advanced materials company. It will pay $78 in cash for each outstanding share, a more than 73% premium to Rohm and Haas's closing share price on July 9th. The move into more high-margin speciality chemicals should help protect Dow from the more cyclical basic chemical sales business, and it described it as a decisive move to transform Dow into an earnings growth company. Rohm and Haas is best known for its paint and electronics materials businesses but its technologies are found in a wide range of industries, including pharmaceuticals. The deal, which has been unanimously approved by the boards of both companies, remains subject to approval by Rohm and Haas shareholders and regulatory approvals.
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