Dow (DOW) and Rohm and Haas (ROH) Reach Settlement: Ordinary Shareholders to Receive $78/Share
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CNBC's David Faber is reporting that Dow Chemical (NYSE: DOW) and Rohm and Haas (NYSE: ROH) have reached a settlement. The Haas family trust, Paulson & Co. will take $2.5 billion in preferred equities and Dow also has the option to issue $500 million in additional equity.
All other shareholders will receive $78/share.
The deal will close no later than April 1.
UPDATE: Shares of Rohm and Haas have spiked about 10% on the news. The stock is now trading up 17% to $74.91. Meanwhile, shares of Dow Chemical have dropped about 10% on the news. That stock is now trading around $6.31.
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