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Dow Chemical says Rohm talks going well


    GEORGETOWN, Del (Reuters) - Dow Chemical Co said on Sunday that settlement talks with Rohm and Haas Co were going "quite well" on the eve of a scheduled court hearing on their soured $15 billion merger.

    Unless a settlement is reached, Dow and Rohm and Haas are set to face off on Monday in Delaware court over Dow's refusal to close its more than $15 billion takeover of Rohm and Haas.

    A spokesman for Dow said it was looking for the "right deal," but a takeover of Rohm and Haas at $78 per share in cash was not acceptable.

    Unless Dow gets the right deal, it said it would proceed with the court hearing. Dow said it was important that it protected its investment-grade rating.

    Dow said it would have more to disclose on Monday. Rohm and Haas could not be immediately reached for comment.

    (Reporting by Michael Erman; Writing by Jessica Hall; Editing by Jan Dahinten)