Apollo Wins Bid for Huntsman

Apollo Management (New York), through its Hexion Specialty Chemical’s unit, says it has signed a definitive agreement to acquire Huntsman for about $10.6 billion ($28/share), including $4 billion in debt. Apollo’s offer tops its initial July 4 bid of $27.25/share, which followed Basell’s June 29 offer to acquire Huntsman for $25.25/share ($9.6 billion) (CW, July 4/11, p. 10). Huntsman says it terminated its agreement with Basell last week, and paid Basell a break-up fee of $200 million, half of which was funded by Hexion. It was unclear at CW...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers