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Ion exchange chromatography leaders merge.

Midland, MI 7/10/08; Philadelphia, PA 7/10/08 -- Specialty chemicals firm Rohm and Haas has agreed to be acquired by Dow for $78 per share in cash, a 48% premium to the stock's 60-day average closing price, in a deal valued at $15.3 billion. Both Rohm and Haas and Dow are suppliers of resins for ion exchange chromatography. "The addition of Rohm and Haas' portfolio is game changing for Dow, enabling us to accelerate the growth of our Performance business portfolio and affording us a strong position in the global specialty chemicals and advanced materials sectors," commented Dow Chairman and CEO Andrew N. Liveris. Rohm and Haas will retain its name and form the foundation of Dow's new Advanced Materials division, which is expected to have annual revenues of $13 billion. The transaction is forecasted to close in early 2009, pending the approval of shareholders and regulatory authorities.

Rohm and Haas and Dow are the second and third largest suppliers of ion exchange resins for process chromatography. Combined, they will be a very close second to GE Life Sciences. They will also become the second largest provider of process chromatography columns and media overall, but will remain a distant second to GE.
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Title Annotation:Executive Briefing: News & Views for Executives
Publication:Instrument Business Outlook
Date:Jul 15, 2008
Words:205
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