Chemical suppliers The Dow Chemical Co. (Midland, Mich.) and Rohm and Haas (Philadelphia, Pa.) have signed a definitive agreement under which Dow will acquire all outstanding shares of Rohm and Haas common stock for $78 (USD) per share in cash. Rohm and Haas is expected to retain its name and headquarters in Philadelphia.

This acquisition follows the December 2007 announcement of a Dow joint venture with Petrochemical Industries Company of the State of Kuwait (PIC). With these deals, performance products and advanced materials will represent 69 percent of Dow's total sales, on a 2007 pro forma basis, compared with 51 percent prior to these transactions.