Dow Chemical Co., under pressure from record oil prices, agreed to buy Rohm & Haas Co. for about $15.4 billion in cash to increase sales of more lucrative electronics materials and adhesives in its biggest acquisition ever. Dow will pay $78 for each Rohm & Haas share. Financing includes equity investments of $3 billion by Warren Buffett's Berkshire Hathaway Inc. and $1 billion by the Kuwait Investment Authority, Midland, Michigan-based Dow, the biggest U.S. chemical maker, said today in a statement. Berkshire will become Dow's largest shareholder.

Dow Chemical Co., under pressure from record oil prices, agreed to buy Rohm & Haas Co. for about $15.4 billion in cash to increase sales of more lucrative electronics materials and adhesives in its biggest acquisition ever.

Dow will pay $78 for each Rohm & Haas share, 74 percent more than yesterday's closing price. Financing includes equity investments of $3 billion by Warren Buffett's Berkshire Hathaway Inc. and $1 billion by the Kuwait Investment Authority, Midland, Michigan-based Dow, the biggest U.S. chemical maker, said today in a statement. Berkshire will become Dow's largest shareholder.

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