Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Rohm & Haas sues Dow Chemical for breach of contract - Coatings World

What are you searching for?

Sign in
Breaking News

Rohm & Haas sues Dow Chemical for breach of contract

Rohm & Haas sues Dow Chemical for breach of contract

By: Tim Wright

Editor-in-Chief, Contract Pharma

Rohm & Haas announced earlier this week that it is suing Dow Chemical in a Delaware court for failing to complete the agreed $15.4 billion takeover within the agreed time frame. After receiving the green light from the U.S. Federal Trade Commission (FTC) on January 23, 2009, Dow was obliged to close the deal by January 27. The trial will begin on March 9 and is scheduled to conclude in the same week. For every day beyond the original closing date, Dow faces a “ticking fee” of $3.3 million a day.

In as statement Dow said it won’t close the deal due to “uncertainties” in funding as a result of the global financial crisis. Dow cited a decision by the Kuwait government to cancel a planned joint venture last month as reason for the delay. That deal would have netted the firm $9 billion, which it planned to use to fund the takeover.

Add us as a preferred source on Google

Get the latest Coatings World news, insights and analysis in your Google Search and AI experiences.

Add Coatings World as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Coatings World Newsletters