Dow's financing still uncertain (Dealscape

Citigroup Inc.'s reorganization isn't likely to affect Dow Chemical Co.'s $15.4 billion merger with Rohm and Haas Co., but risks remain that even if a court mandates a merger close, the buyer could lose its financing.

It is not a given that Rohm and Haas will win specific performance of the merger agreement in the Delaware Court of Chancery trial scheduled to begin March 9 before Chancellor William Chandler. Bank lenders for the transaction are not parties to the litigation, but the leads on the $13 billion bridge loan, Citigroup, Merrill Lynch & Co. and Morgan Stanley, have received subpoenas for documents related to Dow's efforts to refinance the deal through equity, debt and asset sales.

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6,892 articles related to Citigroup Inc.
449 articles on Dow Chemical
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NOT A SUBSCRIBER? Dow's financing still uncertain Posted on February 23, 2009 11:03 AM Citigroup Inc.'s reorganization isn't likely to affect Dow Chemical Co.'s $15.4 billion merger with Rohm and Haas Co., but risks remain that even if a court mandates a merger close, the buyer could lose its financing. It is not a given that Rohm and Haas will win specific performance of the merger agreement in the Delaware Court of Chancery trial scheduled to begin March 9 before Chancellor William Chandler. Bank lenders for the transaction are not parties to the litigation, but the leads on the $13 billion bridge loan, Citigroup, Merrill Lynch & Co. and Morgan Stanley, have received subpoenas for documents related to Dow's efforts to refinance the deal through equity, debt and asset sales. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline. 33 in-depth reports of M&A deals in the Chemicals sector 6,892 articles related to Citigroup Inc. 449 articles on Dow Chemical 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Skadden Arps Pinnacle Foods Concho Resources Agrium Inc. Birds Eye Cantor Fitzgerald Credit Suisse Windstream Corp. Goldman Sachs		EXISTING USERS Username Password Forget your password? Missing a product?

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