Hexion Extends Termination Date on Huntsman Merger
By Staff | April 2008
Huntsman Corp. (The Woodlands, Texas) announced in late January that it has received notice from Hexion Specialty Chemicals Inc. (Carpentersville, Ill.) that Hexion will exercise its right, under its merger agreement with Huntsman, to extend the agreement’s termination date by 90 days from April 5 to July 4, 2008. The two companies had agreed to the merger in July 2007 (see “Related Content,” at left). Huntsman and Hexion had previously announced on Oct. 4, 2007, that each had received a request for additional information (commonly known as a second request) from the Federal Trade Commission (FTC) under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Huntsman and Hexion have agreed with the FTC to allow regulators additional time to review the merger. As a result, the merger is not expected to close before May 3, 2008.
