After Vice Chancellor Stephen Lamb found that Hexion Specialty Chemicals had willfully breached its merger agreement with Huntsman in September, the company--and potentially its owners at Apollo--were facing the prospect of billions of dollars in damages. So this morning's announcement that Apollo and Hexion will pay Huntsman $425 million to end the litigation looks like a steal for Huntsman's erstwhile merger partners.
Huntsman Terminates Merger Agreement, Settles with Apollo and Hexion for $425 Million
December 15, 2008
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