The Kuwait Investment Authority would consider increasing its support for Dow Chemical’s disputed takeover of Rohm and Haas if the terms of the deal were changed to account for the downturn, said sources close to the deal. Dow failed to complete the $15bn deal after the collapse of a joint venture between Dow and PIC – an arm of the Kuwaiti Petroleum Corporation – that was supposed to contribute $7.5bn to help pay for the acquisition. Warren Buffett has agreed to contribute $3bn and KIA was to have added $1bn. KIA had not approached Dow to discuss increasing its investment in the deal, Dow said. But analysts said the idea could be an elegant solution to the break-up of the Dow-PIC joint venture.

This entry was posted by Gwen Robinson on Tuesday, February 10th, 2009 at 5:35 and is filed under Capital markets, M&A. Tagged with dow chemical, kia, PIC. Edit this entry.