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The transaction is necessary to meet U.S. Federal Trade Commission (FTC) required divestitures related to Dow's acquisition of Rohm and Haas Co. The agreement comes ahead of the Nov. 27 FTC deadline.
The selection of OMNOVA as the buyer must be approved by the FTC, and the acquisition is subject to normal closing conditions. The transaction is expected to close in the fourth quarter of 2009. Terms of the transaction are not being disclosed.
For more information, visit www.omnova.com.