New York, Jan 23 - U.S. regulators are poised to clear Dow Chemical Co's acquisition of rival Rohm & Haas Co, which could force Dow to complete the deal, Bloomberg reported on Thursday.
Bloomberg, citing a person familiar with the matter, said Dow has received the backing of Federal Trade Commission lawyers by agreeing to divest its acrylic and emulsion businesses.
Dow Chemical announced in July it would buy Rohm & Haas for $15.3 billion. The takeover has been clouded after Kuwait backed out of a $17.4 billion joint venture, proceeds from which Dow had hoped to use to help fund the deal.
Under the terms of the merger, closing of the deal is to be no later than two days after the companies have received all the necessary approvals.
Lawyers have characterized the merger agreement as being very tight and said that Dow may only be able to wiggle out of the transaction if the deal does not receive antitrust approval.
The companies received European approval for the deal in January.
Earlier this month, Dow CEO Andrew Liveris told Reuters that the Rohm & Haas deal was "on strategy." He declined to comment on whether Dow is trying to coax Rohm back to the table to renegotiate.
Dow has also said it will take legal action against Petrochemical Industries Co of Kuwait, seeking more than $2.5 billion in damages from the Kuwaitis for backing out of the joint venture.