FTC OKs Dow Chemical Deal For Rohm & Haas, With Conditions
24 January 2009 - 3:59AM
Dow Jones News
The U.S. Federal Trade Commission on Friday gave antitrust
clearance to Dow Chemical Co.'s (DOW) $18.8 billion acquisition of
rival chemical manufacturer Rohm & Haas Co. (ROH), but required
Dow to sell assets for the deal to go through.
Under a settlement with the FTC, Dow agreed to sell its acrylic
monomer, hollow sphere particle, and acrylic latex polymer
businesses.
Dow also agreed to put procedures in place to ensure it doesn't
have access to competitively sensitive non-public information
regarding any businesses it acquires from Rohm & Haas.
The FTC said in a statement that Dow's concessions were
necessary because the companies are direct and significant
competitors in certain markets for acrylics and other industrial
chemicals used to make coated paper products, paints and
adhesives.
The settlement would ensure competition in those areas and keep
consumers from seeing higher prices, the commission said.
-By Brent Kendall, Dow Jones Newswires; 202-862-9222;
brent.kendall@dowjones.com
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