Specialty chemicals maker Rohm and Haas is to be bought by Dow Chemical, the Detroit Free Press reported in July. Dow agreed to the purchase for $78 per share or more than $15 billion.

Based on the per-share purchase price and the almost 200 million shares Rohm and Haas had outstanding since April, the deal is valued at approximately $15.29 billion.

Dow Chemical said it values the deal at $18.8 billion including debt. The deal has been approved by both companies’ boards. It is pending approval by Rohm and Haas shareholders and regulatory approvals.