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Huntsman Sues Apollo for Merger Pull Out

June 23, 2008 | Michelle Bryner

Huntsman says it has filed a lawsuit against Apollo Management, the owner of Hexion Specialty Chemicals, and partners Leon Black and Joshua Harris, alleging "fraud and tortuous interference" for backing out of an agreement to acquire Huntsman. Huntsman, which filed the suit in Conroe, TX, is seeking actual damages exceeding $3 billion plus exemplary damages. "It is now clear that, to get Huntsman to terminate its contract with Basell, Apollo falsely represented to Huntsman its commitment to closing a merger with Hexion at $28 per share, when it...

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