Report: Dow Chemical to Skip Rohm Deadline

Dow Chemical (DOW Quote) is willing to miss its contractual deadline to close on its acquisition of Rohm & Haas(ROH Quote) on Jan. 10 in order to lower the deal's debt costs, according to a published report.

Dow CEO Andrew Liveris said in an interview with the Financial Times that the penalty Dow will pay Rohm & Haas if the deadline is missed "is not a huge amount of money," and "will not be a big deal."

The FT also reported that Liveris intends to raise more equity before it closes on Rohm, thereby reducing the debt Dow would incur if it completed the merger under today's financial requirements. ...