Published: August 05, 2010
Rohm and Haas Announces Cash Tender Offer and Consent Solicitation for Morton International's 9-1/4% Credit Sensitive Debentures due June 1, 2020
MIDLAND, Mich. - (BUSINESS WIRE) - Rohm and Haas Company, a subsidiary of The Dow Chemical Company (NYSE:
DOW), announced today that, as a part of Dow's ongoing actions to reduce
debt, it has commenced a cash tender offer and related consent
solicitation to purchase any and all of Morton International, LLC's
(formerly known as Morton International, Inc.) outstanding $145.167
million aggregate principal amount of 9-¼% Credit Sensitive Debentures
due 2020. The tender offer is being made at a price of $1,430.00 for
each $1,000.00 principal amount of such Debentures validly tendered on
or before the early tender date which is 5:00 p.m., New York City time,
on August 18, 2010, which amount includes an early tender premium of
$30.00 per $1,000.00 of Debentures. Debentures tendered after such early
tender date but before the expiration date, which is 11:59 p.m., New
York City time, on September 1, 2010, will be eligible to receive
$1,400.00 for each $1,000.00 principal amount of such Debentures validly
tendered, which amount does not include the early tender premium.
The Company has engaged Barclays Capital Inc. and Deutsche Bank
Securities Inc. to act as Dealer Managers and Solicitation Agents for
the offer and Global Bondholders Service Corporation to act as
Information and Tender Agent for the offer. Questions regarding the
terms of the offer may be directed to Barclays Capital Inc. at (800)
438-3242 (toll free) or (212) 528-7581 (collect) or Deutsche Bank
Securities Inc. at (866) 627-0391 (toll free) or (212) 250-2955
(collect). Questions regarding tender procedures or requests for
documentation may be directed to Global Bondholder Services Corporation
at (866) 924-2200 (toll free) or (212) 430-3774 (collect).
This press release does not constitute an offer to sell or purchase, or
a solicitation of an offer to sell or purchase, or the solicitation of
tenders or consents with respect to, any security. No offer,
solicitation, purchase or sale will be made in any jurisdiction in which
such an offer, solicitation, or sale would be unlawful. The offer is
being made solely pursuant to the Offer to Purchase and Consent
Solicitation Statement and related documents made available to holders
of the Debentures.
About Dow
Dow combines the power of science and technology with the "Human
Element" to passionately innovate what is essential to human progress.
The Company connects chemistry and innovation with the principles of
sustainability to help address many of the world's most challenging
problems such as the need for clean water, renewable energy generation
and conservation, and increasing agricultural productivity. Dow's
diversified industry-leading portfolio of specialty chemical, advanced
materials, agrosciences and plastics businesses delivers a broad range
of technology-based products and solutions to customers in approximately
160 countries and in high growth sectors such as electronics, water,
energy, coatings and agriculture. In 2009, Dow had annual sales of
$45 billion and employed approximately 52,000 people worldwide. The
Company's more than 5,000 products are manufactured at 214 sites in
37 countries across the globe. References to "Dow" or the "Company" mean
The Dow Chemical Company and its consolidated subsidiaries unless
otherwise expressly noted. More information about Dow can be found at www.dow.com.
The Dow Chemical Company
Rebecca Bentley
+1 989 638 8568
rmbentley@dow.com
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