The Woodlands, Texas - Huntsman Corp. has commented on the 18 June lawsuit by Hexion Specialty Chemicals and Apollo in which Hexion claims it would not be required to consummate the Merger Agreement between the two groups.
Peter Huntsman, president and ceo stated, "We believe Hexion and Apollo's actions are inconsistent with the terms of the Merger Agreement and the obligations to Huntsman and its shareholders. These actions appear to be a blatant attempt to deprive our shareholders of the benefits of the Merger Agreement that was agreed to nearly a year ago."
Huntsman intends to "vigorously enforce" all of its rights under the Merger Agreement and seek to consummate the merger on the agreed terms, the company said.
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