Rohm and Haas shareholders approve acquisition by DowRohm and Haas shareholders approve acquisition by Dow

A majority of the more than 195 million shares entitled to vote came out in favor of the merger proposal between Rohm and Haas Co. (Philadelphia, PA) and The Dow Chemical Co. (Midland, MI). Per the agreement’s terms, stockholders will receive $78 in cash for each Rohm and Haas share. Pending regulatory approvals, the merger is now expected to close in early 2009, with Rohm and Haas retaining its name and Philadelphia headquarters. Dow adds specialty chemicals business segments to Rohm and Haas’s portfolio, with the joined company projecting annual revenue of approximately $13 billion.