Huntsman and Hexion Each Narrow Their Third-Quarter Losses

Huntsman and Hexion Specialty Chemicals each narrowed their losses as shown in their separate earnings reports for the third quarter, compared to the year-ago period. The two companies are expected to close their $10.6-billion merger in the first quarter of 2008 (CW, July 18, p. 7). Huntsman reported a net loss of $150 million, compared to a net loss of $182.3 million in the year-ago period. Adjusted net income from continuing operations fell 13%, to $61.1 million (26 cts/share). Adjusted Ebitda from continuing operations fell 3%, to $223 million, primarily due...

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