PHILADELPHIA - Stockholders for Rohm and Haas have voted in favor of the proposed merger between Rohm and Haas Co. and The Dow Chemical Co. A majority of the more than 195 million shares entitled to vote at the meeting voted in favor of the merger proposal. The terms of the agreement call for stockholders to receive $78 in cash for each share of Rohm and Haas they own.
The merger is expected to close in early 2009, pending regulatory approvals, and the agreement provides that Rohm and Haas Co. will retain its name and Philadelphia headquarters. Dow will contribute a number of specialty chemicals business segments to the Rohm and Haas portfolio, creating an advanced materials company with annual revenue of approximately $13 billion.