Hexion Sues Credit Suisse Over Failed Merger

Law360, New York (October 29, 2008, 12:00 AM EDT) -- Hexion Specialty Chemicals Inc., a unit of private equity firm Apollo Management LP, said Wednesday that it had sued affiliates of Credit Suisse Group AG and Deutsche Bank AG in an attempt to force the banks to fund its proposed $6.5 billion acquisition of Huntsman Corp.

The suit, filed in the Supreme Court of the State of New York, alleges that the banks breached their obligations under a financing commitment letter to fund the closing of the merger, according to Hexion.

“Both Hexion and Huntsman are...
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