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Dow Decision to Delay R&H Deal Could Trigger Expensive Legal Battle (Update 2)
9:49 AM MST | January 28, 2009 | NATASHA ALPEROWICZ
Dow Chemical’s CEO Andrew Liveris has defended his company’s decision not to close the previously announced $18.7 billion deal, including $3.7 billion of R&H debt, to acquire Rohm & Haas (R&H) by close of January 27. He told CNBC Tuesday that “conditions have deteriorated very significantly” since the deal was announced and that combining R&H with Dow right now would be bad for both companies. But he said he did not blame R&H for going to court. R&H asked a Delaware court on January 26 to force Dow to complete the...
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