From Deseret News archives:

Competing deals for Huntsman Corp.

Published: Tuesday, July 10, 2007 12:35 a.m. MDT
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Basell Holdings, part of Access Industries Holdings LLC: $5.6 billion, or $25.25 per share. Assumes $3.7 billion in debt. Already approved by Huntsman family members and private-equity firm MatlinPatterson Global Opportunities Partners LP, which own a combined 57 percent of the shares outstanding. Huntsman would pay Basell $200 million if the deal falls through.

Hexion Specialty Chemicals Inc., part of Apollo Management LP: Initial offer of about $6 billion, or $27.25 per share. Offer raised Monday to about $6.54 billion, or $28 per share ($10.5 billion including debt). Hexion has agreed to pay half of the Basell/Huntsman $200 million breakup fee. Hexion would pay Huntsman $325 million if Hexion fails to get regulatory approval or secure financing for the deal. Huntsman would have to pay a $225 million fee to Hexion if it terminated the deal.

Huntsman stock: Closed Monday at $28.07 per share, up 7 cents, after briefly rising to a 52-week high of $28.40.

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