The on-again, off-again merger is now on after the Delaware court ruled that Hexion had to move forward with its plans to acquire Huntsman. Hexion had tried to pull out of the deal citing concerns about Huntsman liquidity and viability. Since the decision was issued last Monday night, Hexion has taken a number of steps towards completion of the Huntsman merger. Both the European Union and the U.S. Federal Trade Commission (FTC) have completed their reviews of the transaction, and the parties have obtained the requisite approvals. In addition, Hexion is in ongoing discussions with Huntsman regarding a wide range of matters relating to the closing.
Commenting on the actions, Craig Morrison, CeO of Hexion, said, "We are grateful for Apollo's support as we continue to work towards closing the Huntsman transaction."