Though the Federal Trade Commission approved the merger on Friday, Dow Chemical seems unlikely to close the US$15.3 bln merger with Rohm & Haas by Tuesday. Rohm & Haas said it "intends to pursue all available alternatives to protect its shareholders' interests", hinting at potential legal action.
The status of the merger has been getting increasingly wobbly since Kuwait withdrew from a commitment to form a US$17.4 bln joint venture with Dow, sapping the American counterpart of projected revenue to finance the merger with Rohm & Haas.
27-Jan-09 
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