Rohm & Haas Co. (ROH) said Sunday that it believes that Dow Chemical Co. (DOW) has the necessary resources and flexibility to acquire the company.
Rohm & Haas accused that Dow, instead of focusing on taking necessary steps, has embarked on an aggressive campaign in an attempt to frighten the company's employees, communities and customers with its statements.
In July last year, Dow agreed to buy out Rohm and Haas for $15.4 billion or $78 a share at a 74% premium with the hope of broadening its product offerings. Dow had hoped to finance the deal with a $13 billion bridge loan, a $3 billion equity investment by Berkshire Hathaway Inc. and a $1 billion investment by the Kuwait Investment Authority.
However, Kuwait nixed the $17.4 billion joint venture with Dow's plastic division in December.
On Tuesday, Dow said that its agreement to buy rival Rohm and Haas is not binding under current conditions. The company said that the deal would jeopardize both companies.
Today, in a letter sent to the Dow board, Rohm and Haas said it believes that the combination of the two companies will create a strong global competitor to benefit shareholders and all other stakeholders in the long term.
While there are short-term challenges in today's economy, the combined company is well positioned to meet those challenges, the company added.
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December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.