Reluctant Hexion Gets FTC Nod To Buy Rival

Law360 (October 3, 2008, 12:00 AM EDT) -- Chemical products maker Hexion Specialty Chemicals Inc. has been given regulatory approval to buy rival Huntsman Corp., just days after losing a court bid to get out of the $10.6 billion deal.

The Federal Trade Commission announced Friday it had settled potential antitrust violations with the proposed acquisition, with Hexion agreeing to divestitures and certain conduct restrictions to obtain clearance.

The announcement follows a Delaware judge's Sept. 30 order directing Hexion to follow through on its agreement from last July to purchase Huntsman for $28 per...
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