Dow to move ahead with Rohm and Haas buyout

03/16/2009 | PlasticsNews.com

Dow Chemical has reached an agreement with Rohm and Haas that will allow for Dow's acquisition of the company on April 1. Under the terms of the deal, the Haas family trust and Paulson & Co. will receive a $2.5 billion stake in preferred shares issued by Dow. However 3,500 jobs will be cut from the combined company, in the wake of 5,000 cuts at Dow and 1,500 at Rohm and Haas since late 2008.

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