IHS Chemical Week

EnviroTech :: Regulatory

Hexion Told to Honor Terms of Huntsman Deal

11:03 AM MDT | October 6, 2008 | Robert Westervelt

The Delaware Court of Chancery has denied Hexion Specialty Chemicals’ bid to break its agreement for acquiring Huntsman, ordering Hexion to take all actions necessary to close the deal “in the most expeditious manner practicable.” Separately, Huntsman obtained a temporary restraining order barring Hexion’s lenders from any action that could hold up financing for the deal, according to a ruling issued last week by a Texas district court. Huntsman: Gratified by favorable ruling. Hexion, owned by private equity firm Apollo Management (New...

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