Cleaning & Maintenance Management Online

One more hurdle for $15.3 billion transaction

January 9, 2009
MIDLAND, MI — The acquisition of Rohm & Haas by Dow Chemical has officially received approval from the European Union, according to Reuters.
The only remaining obstacle to the $15.3 billion buyout is antitrust approval by the U.S. Federal Trade Commission, the story stated.
If the merger is not completed by January 10, Dow faces a "ticking fee" that will require them to pay Rohm & Haas $100 million more for every month it does not close the transaction, the story noted.
If the deal does not receive U.S. antitrust approval, Dow could walk away from the deal by paying a $750 million breakup fee, the story added.
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