Rohm and Haas Co., a Philadelphia-based chemical company with operations in Central Massachusetts, saw its stock price drop sharply after Kuwait cancelled a joint venture deal with Dow Chemical, which was on its way to buying the company.
Rohm and Haas said Sunday night that Dow’s acquisition of the company is still moving forward, but the company’s stock fell from more than $63 Friday to under $50 this morning.
Rohm and Haas and Dow signed a definitive agreement for the acquisition on July 10, sending the company’s stock from under $45 to more than $73.
