2009 JAN 7 - (VerticalNews.com) -- Huntsman Corporation (NYSE:HUN) announced it has received the $325 million termination fee provided for in the Merger Agreement between Huntsman and Hexion Specialty Chemicals, Inc. ("Hexion"). Hexion committed to pay the termination fee in connection with the previously announced $1 billion settlement between Huntsman and Hexion, Apollo Management, L.P. ("Apollo") and certain of its affiliates.

  Huntsman expects to receive another $250 million payment from Apollo affiliates and a further $250 million payment upon issuance of 10 year Huntsman convertible notes to Apollo on or before December 31, 2008. The remaining $175 million of payments must be made on or before March 31, 2009 ...read more

  2009 JAN 7 - (VerticalNews.com) -- Huntsman Corporation (NYSE:HUN) announced it has received $250 million from affiliates of Apollo Management, L.P. ("Apollo") from the issuance of its 10 year convertible notes. The notes were issued pursuant to Huntsman's previously announced settlement agreement with Hexion Specialty Chemicals, Inc. ("Hexion"), Apollo and certain of its affiliates to settle Huntsman's claims against Hexion, Apollo and its affiliates arising in connection with Huntsman's terminated Merger Agreement with Hexion ...read more

  2008 DEC 31 - (VerticalNews.com) -- Huntsman Corporation (NYSE:HUN) announced it has terminated its Merger Agreement with Hexion Specialty Chemicals, Inc. ("Hexion"). In addition, Huntsman announced that it reached an agreement with Hexion, Apollo Management, L.P. ("Apollo") and certain of its affiliates to settle Huntsman's claims against Hexion, Apollo and its affiliates arising in connection with Huntsman's Merger Agreement with Hexion. Payments to be made to Huntsman under the Settlement Agreement total $1 billion ...read more