Huntsman Corp. said it was contacted by investors who may be interested in providing additional financing to help a unit of Apollo Management LP complete a leveraged buyout of the chemicals maker.
Huntsman asked Apollo's Hexion Specialty Chemicals Inc. unit for permission to share confidential information with the investors, according to a filing Thursday with the U.S. Securities and Exchange Commission. Salt Lake-based Huntsman didn't name the potential investors in the document.
Apollo, the New York-based buyout firm run by Leon Black, last month sought to cancel the $6.54 billion buyout of Huntsman, saying the combined company would be insolvent and financing may not be possible to arrange.
Huntsman said Apollo's financial analysis was incorrect and that the firm must complete the deal. The company sued Black in Texas, accusing him and partner Joshua Harris of fraud.
The two sides are set to go to trial in Delaware Chancery Court Sept. 8. Huntsman fell 23 cents, of 1.7 percent, to $13.27 in New York Stock Exchange composite trading Thursday, less than half of the $28-a-share sale price.