Dow acquisition cleared by Federal Trade Commission
January 23, 2009
MIDLAND, MI — The U.S. Federal Trade Commission has given Dow Chemical clearance to follow through with their $15.4 billion acquisition of Rohm & Haas, according to Bloomberg.com.
Dow agreed to sell acrylic plants in Texas, Louisiana, Illinois and California and a latex research facility in North Carolina to satisfy FTC concerns that the merger could eventually lend itself to form a monopoly and hurt chemical manufacturer competition, the story stated.
According to a Federal Trade Commission statement, Dow will have six months after it completes the acquisition to sell the assets or a trustee appointed by the FTC would be empowered to dispose of them.
After clearing this final hurdle in the long-awaited merger, Dow must now complete the deal within two business days, the story noted.
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