request to delay the March 9 trial date for its lawsuit with
Rohm & Haas
was denied Thursday morning by the presiding judge in the case.
Rohm & Haas filed suit against Dow Chemical in Delaware Chancery Court when their merger failed to close by Jan. 27, the date stipulated in the merger contract. Dow immediately requested that the trial date be delayed so that the two companies could renegotiate the merger's details.
Judge William Chandler III didn't comment on the legal arguments of either company when he rejected Dow Chemical's delay request. However, the decision clearly complicates the playing field for Dow Chemical as it scrambles to shore up financing and renegotiate the $15.3 billion merger with Rohm & Haas.
Shortly after the court decision was released, shares of Dow Chemical were fading 0.3% at $10.47, while shares of Rohm & Haas were gaining 2% at $54.86.