P.M. BRIEFING : Huntsman Ends Takeover Bid
From Times Wire Services
SALT LAKE CITY —
Huntsman Holdings Corp., whose unsolicited $813-million bid for Aristech Chemical Corp. prompted the chemicals company to seek a Japanese white knight, said today it has dropped its offer.
Huntsman had previously said it might sweeten its $25-a-share offer to more than $27 per share, but said today it has ended talks with Aristech.
Aristech recently agreed to be acquired for $845 million, or $27 a share, by a group led by Aristech management and the Japanese trading company Mitsubishi Corp.
