Sale by the Haas Trusts of Dow Chemical Stock

On May 8, 2009, The Dow Chemical Company announced that it priced on May 7 an offering of $6 billion of its senior unsecured notes, following its pricing on May 6 of an offering of $2.25 billion of its common stock. Cravath is representing the Haas Trusts in their sale of Dow common stock and Dow senior unsecured notes in these offerings. The Haas Trusts are receiving these securities as a result of the repurchase by Dow of $1.25 billion in face amount of Dow preferred stock received by the Haas Trusts when Dow acquired Rohm & Haas for $15.5 billion. Cravath also represented the Haas Trusts in connection with the acquisition of Rohm and Haas.

The lawyers involved in the matter include partners Andrew R. Thompson and Richard Hall and associates Zachary J. Gubler, Matthew B. Fox and Zachary R. Smith on corporate matters; partner Lauren Angelilli and associate Jonathan J. Katz on tax matters; and associates Matthew Morreale and Annmarie M. Terraciano on environmental matters.