Word: rohm
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Dates: during 2000-2009
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...same room with their counterparts from the firm being acquired. Working together may set off the creative sparks that drive new discoveries. Or, they may not. The real but hidden definition of the word "synergy" is firing lots of people. The recently closed marriage between Dow Chemical (DOW) and Rohm and Haas (ROH) was about firing people. Pfizer (PFE) bought drug company Wyeth (WYE) for the same reason. Being in the pharmaceuticals business is not what it used to be. Blockbuster drugs face competition. Keeping hundreds of research scientists around is expensive. (See pictures of the global financial crisis...
...largest American companies that reached a crisis in the last month is Dow Chemical. It lost a deal with Kuwait that would have given it about $7 billion. It also bid to buy Rohm & Hass (ROH). Now that the money from Kuwait is gone and the worldwide chemical industry is in a deep recession, Dow is backing away from the acquisition of Rohm & Hass. Based on all public information, it has no right to do so. When did that Dow board know that the Kuwait deal was in trouble? Did it decide to rely on the money which was coming...
...Rohm and Haas, a multi-national corporation with over $7 billion in annual revenue, produces a variety of chemical products used in various paints, rubbers and coatings...
Whitesides, who chaired the department of chemistry and chemical biology from 1986 to 1989, and won the National Medal of Science in 1998, becomes the second scholar on the current Rohm and Haas board of directors. He joins Gilbert S. Omenn, a professor at the University of Michigan...
...restrictions for board members, which will prevent two of the current Rohm and Haas directors from keeping their posts this year, sparked the company’s search...