Apollo To Buy Huntsman For $6.5 Bln, Trumps Basell

Chemicals maker Huntsman Corp. said on Thursday it agreed to be bought for $6.5 billion by Apollo Management''s Hexion Specialty Chemicals, which trumped an earlier bid for the U.S. company by rival Basell. Huntsman''s board unanimously approved the $28 per share cash bid from Apollo, the private equity firm founded by Leon Black, after Basell said late on Wednesday it would not raise its earlier bid of $25.25 per share.