Judge Orders Banks To Honor Hexion-Huntsman Deal

Law360, New York (October 14, 2008, 12:00 AM EDT) -- Chemical manufacturer Huntsman Corp. has moved one step closer to being acquired by rival Hexion Specialty Chemicals Inc. after a federal judge ruled that the acquisition's financiers, Credit Suisse and Deutsche Bank, must honor Hexion's $6.5 billion commitment to buy Huntsman.

In a temporary injunction order issued Monday in the District Court of Montgomery County, Texas, Judge Fred Edwards ruled that the banks were enjoined from filing any lawsuit seeking to declare that the combined Huntsman-Hexion entity would be insolvent or that it would not be...
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