Apollo raises offer for Huntsman: report
Huntsman Corp. CEO Peter R. Huntsman (L) and Chairman and founder Jon M. Huntsman in an undated photo. Private-equity firm Apollo Management raised its offer for U.S. chemical company Huntsman by 75 cents a share Sunday night to $28 a share, The Wall Street Journal Online reported on Monday.
Credit: Reuters/Handout
NEW YORK |
NEW YORK (Reuters) - Private-equity firm Apollo Management raised its offer for U.S. chemical company Huntsman Corp. (HUN.N) by 75 cents a share Sunday night to $28 a share, The Wall Street Journal Online reported on Monday.
The new offer values Huntsman at around $6.5 billion, according to the report, which cited a person familiar with the negotiations.
None of the companies was immediately available to comment.
Dutch-based Basell BASL.UL, controlled by U.S. industrial group Access Industries, last month agreed to buy Huntsman for $5.6 billion, excluding debt, or $25.25 per share.
Huntsman shares closed Friday at $28.
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