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Business
Hexion delays stock offering
June 26, 2006
| A version of this story appeared in
Volume 84, Issue 26
Hexion Specialty Chemicals is suspending its initial public offering of common stock because of what it calls adverse market conditions. In April, the firm said it would sell shares at $26 to $28 per share, up from a planned offering of $21 to $24 per share. CEO Craig O. Morrison now says that "our decision to postpone the IPO is based on the recent volatility within the overall equities markets and the specialty chemical sector."
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