Rohm and Haas: Dow Should Close Merger Deal
February 03, 2009
Rohm and Haas Co. on Tuesday issued the following statement:
"We understand that this is a difficult environment for the chemical industry. However, the difficult conditions in the chemical industry and financial markets commenced before Dow agreed to acquire Rohm and Haas and were widely expected to worsen at the time we entered into the transaction. Therefore, we insisted in our merger agreement that Dow assume both of these risks, rather than the Rohm and Haas shareholders. Dow should honor its obligations and close the transaction.
"There are multiple steps Dow can and should immediately take to reduce its dependence on the bridge loan and secure the financial strength of the merged company. We are convinced that Dow has the ability to close the deal and succeed."
Source: Rohm and Haas Co.
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