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Apollo to Provide $540 Million to Help Hexion Fund Huntsman Deal

2:13 PM MDT | October 20, 2008 | Robert Westervelt

Apollo Management (New York) has agreed to contribute $540 million to its Hexion Specialty Chemicals unit to assist in closing Hexion’s acquisition of Huntsman. Hexion says it “is proceeding expeditiously to seek to close its merger with Huntsman.” Huntsman: Pressing for deal to close. The commitment, contingent on completion of the deal, follows last month’s decision by the Delaware Court of Chancery to deny Hexion’s attempt to break its $10.6-billion agreement to acquire Huntsman (CW, Oct. 6, p. 9). The court ordered Hexion to take...

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