Dow Reaches 11th-Hour Deal With Rohm and Haas

Law360, New York (March 9, 2009, 12:00 AM EDT) -- The Dow Chemical Co. said Monday it has reached an agreement with Rohm and Haas Co. on the day of a scheduled trial over their delayed $18.8 billion merger to close the deal by April 1 on “substantially altered financial terms.”

Under the settlement, which resolves litigation brought against Dow on Jan. 26, two major Rohm and Haas shareholders will buy $2.5 billion in perpetual preferred equity issued by Dow. One of those shareholders — the Haas Family Trusts — has also agreed to make an...
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