Monday, January 26, 2009

More on Dow and Rohm & Haas

A few weeks back I discussed that because of the low price of oil, the Kuwaiti's didn't quite have the finances to go through with the K-Dow deal, leaving Dow short of the cash it needed to close on acquiring Rohm and Haas. Dow promised that the acquisition was still going to happen, but this morning publicly declared otherwise (or at least stalling on the deal for a while) sending Rohm and Haas's stock down ~ 17% on the opening bell. Worse yet for Dow, R & H is now providing a stimulus package for some law firms and is suing Dow to complete the purchase.

Dow's stock, on the other hand, is basically unchanged.

No comments: