UPDATE 1-Rohm and Haas still trading as Dow deal looms
NEW YORK, March 31 (Reuters) - Chemical company Rohm and Haas Co ROH.N, which is being acquired by Dow Chemical Co (DOW.N), said on Tuesday that its shares would continue trading through April 1 -- the deadline set by a judge for the more than $15 billion deal to be completed.
Earlier, a report on CNBC cable television said the shares might cease trading after the market close on Tuesday and that the deal with Dow would close on Tuesday or Wednesday.
But a Rohm and Haas spokeswoman said the company's shares would not cease trading on March 31 and would continue to trade on April 1.
Rohm and Haas expects the deal with Dow Chemical to close on Wednesday evening, in accordance with the order of the Delaware Chancery court, the spokeswoman said.
A spokesman for Dow Chemical was unable to immediately comment on the CNBC report that Rohm and Haas shares would cease trading after market close on Tuesday.
On March 9, Dow Chemical agreed to go through with its purchase of Rohm and Haas, reaching a settlement after the two sides were scheduled to go to a trial over Dow's refusal to close the deal.
The companies said Rohm and Haas shareholders would receive just less than $79 a share -- $78 per share, plus a ticking fee agreed upon in the original deal.
Rohm and Haas shares were up 29 cents at $78.88 in morning trading on the New York Stock Exchange. (Reporting by Steve James; Editing by Lisa Von Ahn)
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