Dow purchase of Rohm and Haas gets EU clearance
Thursday January 8, 4:06 pm ET
Dow Chemical's $15 billion buy of Rohm and Haas clears European Union regulatory hurdle
PHILADELPHIA (AP) -- Rohm & Haas said Thursday it has cleared one more hurdle in its pending $15.3 billion buyout by Dow Chemical.
The European Commission determined that the pending acquisition does not violate antitrust regulations in Europe.
The deal is still on schedule to close early this year, pending approval by the U.S. Federal Trade Commission.
The buyout of Philadelphia-based Rohm & Haas has come into question after a $17.4 billion joint venture between Dow and a Kuwaiti state-owned chemical company collapsed.
Dow planned on using some of that money to fund the Rohm & Haas purchase, and may now have to rely on a $13 billion bridge loan to fund it.
Source: Associated Press
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