Home / Knowledge / News / Textiles / Valuation Firm declares Hexion-Huntsman merger solvent
Valuation Firm declares Hexion-Huntsman merger solvent
25
Oct '08
Huntsman Corporation announced it has received a written opinion from American Appraisal, a leading valuation firm, which has concluded that the company to be formed from the pending merger of Hexion Specialty Chemicals, Inc. and Huntsman Corporation would be solvent.

Specifically, American Appraisal found that the combined Hexion-Huntsman company would satisfy all of the solvency tests commonly used in transactions of this nature.
Huntsman's President and CEO, Peter R. Huntsman,

stated, "American Appraisal is a well regarded and highly qualified valuation firm. As Vice Chancellor Lamb noted in his decision following the Delaware trial, Credit Suisse testified during the trial that they are prepared to fund their commitment 'if a compliant solvency certificate can be provided' at the closing. We plan to do so, and with an independent opinion to which no reasonable lender, acting in good faith, could object."

Huntsman expects to request an updated solvency opinion from American Appraisal for delivery on the closing date, to satisfy the condition contained in Hexion's agreement with affiliates of Credit Suisse and Deutsche Bank.

About Huntsman:

Huntsman is a global manufacturer and marketer of differentiated chemicals. Its operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging.

Originally known for pioneering innovations in packaging and, later, for rapid and integrated growth in petrochemicals, Huntsman today has 13,000 employees and operates from multiple locations worldwide. The Company had 2007 revenues of approximately $10 billion.

Huntsman

Must ReadView All

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Lee Cooper

Apparel/Garments | On 28th Mar 2017

CCI clears FLFL proposal to divest Lee Cooper

The Competition Commission (CCI) of India has approved the proposal...

Textiles | On 28th Mar 2017

Bardoli CEFC to benefit south Gujarat MSMEs

India’s first common engineering facility centre (CEFC) at Bardoli,...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search