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Business
Hexion Receives Huntsman Clearance
by Alexander H. Tullo
October 13, 2008
| A version of this story appeared in
Volume 86, Issue 41
Hexion Specialty Chemicals has received clearance from the European Commission and the Federal Trade Commission to proceed with its $10.6 billion acquisition of Huntsman Corp. The nod follows Hexion's deal to sell some of its epoxy resins assets to the Czech firm Spolchemie. "We are pleased to obtain the necessary antitrust approvals to complete the merger as required in our merger agreement with Huntsman," Hexion CEO Craig O. Morrison says. Hexion had been seeking a way out of the Huntsman agreement since June, but it recently lost a lawsuit in Delaware aimed at breaking the deal (C&EN, Oct. 6, page 10).
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