Will Huntsman Jilt Basell for Hexion?
Just as polyolefin producer Basell and chemical manufacturer Huntsman Corp. seemed destined for marriage, Hexion Specialty Chemicals has interrupted their plans with a separate acquisition proposal for Huntsman. Hexion’s latest proposal on Monday was for $10.5 billion, or $28 per share, $2.75 more per share than Basell’s June 26 offer.