KIA rethink Dow Chemical deal
Published: 10 February, 2009
According to the Financial Times, the Kuwait Investment Authority would consider increasing their support for Dow Chemical's disputed takeover of Rohm and Haas if the terms of the deal were changed to account for the downturn.
Dow failed to complete the $15 billion (€11.5 billion) deal after the collapse of a joint venture between Dow and PIC - an arm of the Kuwaiti Petroleum Corporation - that was supposed to contribute $7.5 billion to help pay for the acquisition. Warren Buffett has agreed to contribute $3 billion and the KIA was to have added $1 billion.
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