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Basell Won’t Raise Bid on Huntsman |
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Written by Administrator
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Thursday, 12 July 2007 |
HOOFDDORP, THE NETHERLANDS – Chemicals maker Basell said it has decided not to raise its $5.6 billion bid for Huntsman Corp.
Huntsman originally signed a merger agreement with Basell, but that was trumped last week by $6.5 billion bid from Hexion Specialty.
Huntsman gave Basell until Wednesday to counter the Hexion offer and did not change its original recommendation in favor of the Basell deal.
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