Hexion wins bid for Huntsman.

Hexion Specialty Chemicals, Columbus, OH, has won its bid to buy Huntsman Corporation, Salt Lake City, UT. Winning the bid over Basell, Hexion's proposal includes buying all of Huntsman's outstanding common stock for $28 per share in cash. The transaction has been valued at $10.6 billion, including the assumption of debt. The deal is subject to regulatory approval in the United States and Europe and the approval of Huntsman shareholders. Entities that collectively own approximately 57% of Huntsman's common stock have agreed to vote in favor of the transaction.