Dow Chemical Drops $15.3B on Rohm & Haas

Deal may signal start of consolidation in chemical industry
By Jim O'Neill,  Newser User
Posted Jul 10, 2008 8:46 AM CDT
The Dow Chemical Co. facility in Midland, Mich.   (AP Photo/Steven Simpkins)
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(Newser) – In what may be the beginning of a long-anticipated consolidation of the chemical industry, Dow Chemical today said it was buying coatings and electronic-materials company Rohm & Haas in a $15.3 billion all-cash deal, reports the Wall Street Journal. Dow is backed by $3 billion from Warren Buffett's Berkshire Hathaway—the second time in past months that the Oracle of Omaha has assisted in a buyout.