Blackstone, Apollo in talks to buy Chemtura: report

PHILADELPHIA Mon May 26, 2008 10:44pm EDT

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PHILADELPHIA (Reuters) - Blackstone Group (BX.N) and Apollo Management are in talks to buy chemicals company Chemtura Corp (CEM.N), the Wall Street Journal reported on Monday.

The negotiations could fall apart since the parties are still arranging financing and discussing the price tag on the deal, it said.

Chemtura, which has a market capitalization of about $1.9 billion, said in December it was pursuing strategic alternatives.

Apollo, Blackstone and Chemtura could not be immediately reached for comment.

(Reporting by Jessica Hall; Editing by Alan Raybould)

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