Huntsman stockholders approve merger with Hexion

18-Oct-07

At a special meeting of Huntsman Corporation, the company's stockholders unanimously voted to approve the merger agreement with Hexion Specialty Chemicals, Inc. (Hexion). Under the terms of the merger agreement, Hexion will acquire all of the outstanding common stock of Huntsman for US$28.00 per share in cash. The agreement also provides that the cash price per share to be paid by Hexion will increase at the rate of 8% pa (inclusive of any dividends paid) beginning April 6, 2008, if the merger has not occurred prior to such date. The transaction remains subject to customary closing conditions, including regulatory approval in the U.S. and Europe.