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DOW got crushed for buying ROH but now DOW is showing

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April 02, 2009 – Comments (1) | RELATED TICKERS: DOW

it had a plan when it bought ROH, one day after DOW completes ROH buyout it sells Morton Salt.

Dow sells salt seller Morton International Philadelphia Business Journal

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 PrintEmailReprintsRSS FeedsAdd to Del.icio.usDigg ThisComments Related News Sale-leaseback deal sought for Colonial Penn buildingDow Chemical will buy Rohm and Haas April 1Morton sale could impact Glendale salt mine

The same day Dow Chemical Co. closed on its acquisition of Rohm and Haas Co., the company made a pact to sell one of Rohm’s more successful businesses, salt-seller Morton International Inc., to K+S Aktiengesellschaft.

Midland, Mich.-based Dow (NYSE: DOW) said late Wednesday it agreed to sell the stock of Morton International Germany-based K+S for $1.67 billion.

Dow, which has made Philadelphia-based Rohm and Haas a subsidiary of the company, will use the funds to pay down debt.

 

1 Comments – Post Your Own

#1) On April 02, 2009 at 1:05 PM, awallejr (79.94) wrote:

While I think DOW certainly overpaid for ROH, they did still buy a quality company. The salt sale was a good move. Assuming they can pare down the debt more, long term the company should benefit.  I bought the stock in real life at $7.80 and plan on holding it for years (though will take some profits when appropriate).

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