Updated from 1:20 p.m. EST
Rohm & Haas
surged Friday on news that the two companies were discussing their disputed $15 billion merger, which was set for a trial Monday in Delaware.
Philadelphia-based Rohm & Hass was soaring 19%, or to $63.80, while Dow was up 9.9% to $7.11.
Dow said it would buy Rohm & Haas last summer. But the economy has deteriorated rapidly since then and a separate joint venture with a Kuwaiti company, from which Midland, Mich.-based Dow expected more than $7 billion, collapsed. Dow tried to put the deal on hold, which prompted the lawsuit by Rohm & Haas.
Other chemical companies moving higher were
, up 6.5% to $6.08, and
Air Products & Chemicals
, up 2.7% to $46.41. Air Products earlier this week reported that it had strengthened its U.S. Gulf Coast hydrogen pipeline network in Louisiana with a 37-mile extension.
was higher by 1.4% to $18.26. Eastman last month declared a dividend payable to common shareholders of 44 cents per share.