Rohm & Haas sues Dow for breach of contract

摘要

Rohm & Haas is suing Dow Chemical in a Delaware court for failing to complete the agreed 15.4 billion takeover within the agreed time frame. After receiving the green light from the U.S. Federal Trade Commission (FTC) on January 23, 2009, Dow was obliged to close the deal by January 27. The trial will begin on March 9 and is scheduled to conclude in the same week. For every day beyond the original closing date, Dow faces a "ticking fee" of 3.3 million a day.