Huntsman Sues Fund For Reneging On Merger Deal

Law360, New York (June 24, 2008, 12:00 AM EDT) -- Huntsman Corp. has lashed back at Apollo Management LP after Apollo sought to rescind its subsidiary's $10.6 billion purchase of the chemical manufacturer, with Huntsman accusing the private equity fund of “working in secret on a plan to scuttle the deal.”

Huntsman sued several Apollo funds as well as Apollo managers Leon Black and Joshua Harris on Monday in the District Court of Montgomery County, Texas.

The Woodlands, Texas-based company accused Apollo of fraudulently inducing Huntsman to accept the merger offer of Hexion Specialty Chemicals Inc.,...
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