Halt Volume Alert: Huntsman (HUN)

Posted in General 
June 23rd, 2009

Huntsman Corp. (NYSE: HUN) shares are halted after Credit Suisse Group (NYSE: CS) and Deutsche Bank AG (NYSE: DB) said they will end all litigation with Huntsman, and will settle for $316 million each.

Also, Credit Suisse and Deutsche Bank will each provide $550 million of senior debt financing to Huntsman International, a subsidiary of Huntsman, to be repaid over seven years. The loans are aimed at bolstering Huntsman’s capital structure.

“While we believe strongly in the merits of our case, we felt it was in our best interests to resolve the litigation for $316 million each,” the banks sad in a statement. “We are pleased to have the litigation behind us.” — Mike Tarsala

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