After careful review of the proposals received, the board of directors and its special committee has concluded that none of the proposals were in the best interests of the shareholders.
Jon M. Huntsman, founder and Huntsman chairman, said: “While the last proposals were above the price of our IPO last year I believe they were not adequate, particularly in light of the risks, uncertainties and extended timing of the proposed transactions.”
President and CEO Peter Huntsman commented, “Like other companies located on the
The Company expects to release fourth quarter 2005 results on Feb. 24 and will hold a conference call to discuss these results on the same day.
Early last week, Huntsman officials confirmed that they spoke with numerous parties interested in the purchase of the commodity chemicals maker.
Shares of Huntsman rose 11% to $21.62 on Jan. 31 following reports of a potential sale. Huntsman first offered shares to the public a year ago at $23 a share.