Huntsman Bids for Aristech Chemical: A group...

Huntsman Bids for Aristech Chemical: A group led by Salt Lake City industrialist Jon Huntsman has offered to acquire Pittsburgh’s Aristech Chemical Corp. for $25 a share, or about $817.5 million. Aristech Chemical became a publicly held company in December, 1986, after it was spun off from USX Corp.’s chemical division. Huntsman, chairman and chief executive of Huntsman Chemical Corp., already controls about 7% of Aristech. Aristech could not be reached for comment. But a spokesman for Huntsman Chemical said Aristech’s board will “consider the friendly offer, which is subject to certain conditions and will make a response at the appropriate time.”