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Huntsman Says Hexion Deal Should Proceed

2:33 PM MDT | June 30, 2008 | Robert Westervelt

Huntsman Corp. says it may seek to extend the July 4 termination date under its merger agreement with Hexion Specialty Chemicals, and argues that Hexion should work toward a third-quarter close of the deal. “We disagree with your conclusion that the merger cannot be consummated,” Huntsman president and CEO Peter Huntsman said in a letter to Hexion president Craig Morrison and Apollo Management principal Joshua Harris that was included in regulatory filings made today. Hexion, which is owned by private equity firm Apollo Management, filed suit earlier...

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