FTC OKs Dow Chemical Deal For Rohm & Haas, With Conditions

The U.S. Federal Trade Commission on Friday gave antitrust clearance to Dow Chemical Co.'s (DOW) $18.8 billion acquisition of rival chemical manufacturer Rohm & Haas Co. (ROH), but required Dow to sell assets for the deal to go through.

Under a settlement with the FTC, Dow agreed to sell its acrylic monomer, hollow sphere particle, and acrylic latex polymer businesses.

Dow also agreed to put procedures in place to ensure it doesn't have access to competitively sensitive non-public information regarding any businesses it acquires from Rohm & Haas.

The FTC said in a statement that Dow's concessions were necessary because the companies are direct and significant competitors in certain markets for acrylics and other industrial chemicals used to make coated paper products, paints and adhesives.

The settlement would ensure competition in those areas and keep consumers from seeing higher prices, the commission said.

-By Brent Kendall, Dow Jones Newswires; 202-862-9222; [e-mail]

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