Chemical Week Magazine :: Business & Finance :: United States/Americas
Huntsman, Hexion in Talks to Lower Merger Price?
10:05 AM MST | November 18, 2008 | Rebecca Coons
Huntsman and Hexion Specialty Chemicals are in talks to renegotiate the price of their embattled planned merger, recent press reports say. Huntsman is unwilling to accept an offer below $25.25/share, one source told The New York Times. That is the same price that Basell offered for Huntsman last year, which Huntsman rejected in favor of Hexion’s subsequent $28/share bid. Neither Hexion, which is owned by private equity firm Apollo Management (New York), nor Huntsman would comment on the reports. Separately, Huntsman says it has begun the discovery phase of...
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