Joel Greenberg Quoted in Reuters on Dow Chemicals Failure to Close Takeover of Rohm and Haas
Joel Greenberg, Co-Chair of the Corporate & Finance Department, was quoted in the January 26, 2009 Reuters article titled "Dow Won't Close Rohm and Haas Deal by Deadline." The article discusses Dow Chemical Co.'s failure to close its $15.3 billion takeover of rival Rohm and Haas Co. by a negotiated deadline, prompting Rohm and Haas to file a lawsuit asking a Delaware court to order Dow to complete the transaction. "They've got no basis for terminating this. They are not even arguing they have a basis for terminating it," said Mr. Greenberg. "If Rohm and Haas is unsuccessful in compelling Dow to close the deal, Dow could still be liable for damages for the difference between the deal price and Rohm and Haas' actual stock price."