The Kuwait Investment Authority may consider increasing its support for

Dow Chemical's

(DOW) - Get Report

disputed takeover of

Rohm and Haas


if the terms of the deal were changed to account for the global downturn, the

Financial Times

reports, citing a person familiar with the matter.

Dow failed to complete the acquisition of Rohm & Haas for $15 billion last month after the collapse of a joint venture between the company and PIC, an arm of the Kuwaiti Petroleum Corp., which was supposed to contribute $7.5 billion to help pay for the acquisition. Warren Buffett has agreed to contribute $3 billion and the Kuwait Investment Authority was to have contributed $1 billion.

The newspaper reports the KIA would consider putting up more money if there were new terms.

Dow said last month that "recent material developments have created unacceptable uncertainties on the funding and economics of the combined enterprise. This assessment is based on several macro-economic factors such as the continued crisis in global financial and credit markets combined with the dramatic and stunning failure of Petrochemicals Industries Company of Kuwait (PIC) to fulfill its obligation to complete the formation of the K-Dow joint venture in late December 2008."

Dow said in January that its long-term strategy remains unchanged and that the proposed acquisition of Rohm & Haas is part of its plan. "Dow remains interested in discussions to find a solution to complete the acquisition ... but recent events have made closing untenable at this time," the company said.



said a KIA official declined to comment on the report when the company was contacted.

Rohm & Haas on Monday said its fourth-quarter earnings fell 82% as several charges and a drop in sales sapped profits.

This article was written by a staff member of