Dow, Rohm & Haas reach deal on buyout

updated 4:53 p.m. ET March 9, 2009

GEORGETOWN, Del. - Dow Chemical reached a tentative deal in its disputed $15.4 billion buyout of Rohm & Haas.

The major shareholders in Rohm & Haas, the Haas family trust and Paulson & Co., will take a $3 billion stake in Dow as part of the deal reached Monday in a Delaware court.

The deal is to be completed no later than April 1.

Trading in shares of both companies was halted at around 2:30 p.m.

Dow shares fell 80 cents, or 11.3 percent, to $6.31, while shares of Rohm & Haas rose $11.11, or 17.4 percent, to $74.91.

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