Dow Chemical, Rohm & Haas Seal Deal

Dow wanted to change the terms of the deal, arguing that economic conditions had made it unfeasible and after a Kuwaiti company backed out of a joint venture that would have helped with financing.

In a pretrial brief released as a response to Rohm & Haas' original complaint in the lawsuit, Dow Chemical had suggested that the amount of debt it would have to incur in order to finalize the merger would have put into question its viability as a going concern.

"The restructuring of the terms of the transaction allows Dow to maintain financial flexibility as we proceed to implement our strategy in a way that realizes the original promise of this acquisition," said Andrew Liveris, CEO of Dow Chemical.