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Hexion says deal for Huntsman may not happen
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Posted on
Jun 19 2008 4:51 AM
by
adeal
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Hexion Specialty Chemicals Inc. said Wednesday it no longer thinks that will be able to acquire fellow chemicals maker Huntsman Corp. because of the deterioration of Huntsman's finances. Huntsman shares fell nearly 38 percent. Columbus, Ohio-based Hexion, which is controlled by an affiliate of Apollo Management LP, said it filed a lawsuit in the Delaware Court of Chancery to declare its contractual rights with respect to its $6.5 billion offer for the company.
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