Sleepless nights – deal is done ... Dow acquisition of Rohm and Haas Company

Story goes that Dow Chemical Co. Chief Executive Officer Andrew Liveris didn’t sleep for two straight nights as he struggled to negotiate new terms for the $16.5 billion acquisition of Rohm & Haas Co. the weekend before a March 9 trial date. Since the announcement many employees of Rohm and Haas Company unable to sleep for a while for fear of job loss. Now the fear of anticipation is gone and reality is about to hit, because company will eliminate an additional 3,500 jobs, mostly at Rohm and Haas. Dow would be aggressive to shed cost and divesture to maintain investment grade ratings and short-term loan obligation. Dow Chemical plans to sell about $4 billion in assets and expects the sale of Rohm and Haas' Morton Salt unit to net at least $1.5 billion. Bloomberg (03/10)