History Huntsman Corporation

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1 history

1.1 merger of equals: huntsmanclariant
1.2 ipo of venator
1.3 terminated takeover access industries





history

the huntsman corporation founded huntsman container corporation in 1970 jon huntsman, sr. went public huntsman corporation on new york stock exchange nyse: hun in february 2005. huntsman has grown through series of acquisitions (with divestitures) , today manufacturer , marketer of differentiated , specialty chemical products.


in april 1994, huntsman acquired texaco chemical company $1.1 billion. texaco inc. agreed sell last remaining petrochemicals plant huntsman in 1999 $600 million.


the huntsman corporation became third-largest petrochemical business in united states when in 1999, acquired imperial chemical industries polyurethanes, titanium dioxide, aromatics , petrochemical global businesses $2.8 billion.


huntsman acquired performance additives , titanium dioxide (tio2) businesses of rockwood holdings, inc. on october 1, 2014, become largest color , white pigments company in world. huntsman paid approximately $1 billion in cash , assumed unfunded european pension liabilities.


merger of equals: huntsmanclariant

in may 2017, huntsman , clariant announced merge, equals, forming huntsmanclariant global leader in speciality chemical production - deal valued @ $20 billion. clariant shareholders own 52% of new entity, huntsman shareholders owning remaining 48% of shares.


the merger terminated on october 27, 2017.


ipo of venator

huntsman corporation spun off pigments , additives division venator materials corporation (“venator”) in initial public offering on aug. 8, 2017.


venator became owner of huntsman’s titanium dioxide , performance additives businesses, offers products comprising broad range of pigments , additives add performance , color many everyday items. venator global company more 4,500 employees across 27 facilities in more 110 countries.


terminated takeover access industries

in june 2007, announced huntsman had agreed acquired access industries, owned billionaire len blavatnik, $5.88 billion in cash. huntsman shareholders receive $25.25 share access industries chemical unit, basell holdings, based in hoofddorp, netherlands. access assume $3.7 billion of huntsman debt.


however, on july 12, 2007, agreement terminated huntsman agreed bought apollo management $6.51 billion or $28 share. huntsman filed suit against apollo management , 2 partners in texas after group backed out of deal purchase chemical company. suit alleged fraud against apollo management huntsman believed group never intended allow hexion specialty chemicals unit buy huntsman corp. $6.5 billion. huntsman claimed apollo put forth higher bid prevent basell af buyout have threatened hexion s market share. hexion stated huntsman s declining financial position reason deal terminated. upon termination of hexion merger agreement, huntsman stock value dropped 50%.


in december 2008, apollo , hexion agreed pay huntsman $1 billion in return huntsman dropping charges against them. suit against funding banks settled in 2009 $632 million in cash , $1.1 billion in loans huntsman corporation.








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