乐天堂fun88(中国区)官方网站 Shareholders Offer Capital on Merger Closing
THE WOODLANDS, Texas, Aug. 29 /PRNewswire-FirstCall/ -- 乐天堂fun88(中国区)官方网站 Corporation ("乐天堂fun88(中国区)官方网站") (NYSE: HUN) announced that it received notice of an independent shareholder initiative to invest at least $500 million in Hexion on the closing of the merger between Hexion and 乐天堂fun88(中国区)官方网站 Corporation. The 乐天堂fun88(中国区)官方网站 family has indicated its expectation to join the shareholder initiative by providing a portion of the $500 million.
As previously stated, 乐天堂fun88(中国区)官方网站's shareholders are entitled to their $28 per share and 8% ticking fee. We are gratified by the confidence in the merged company expressed in this shareholder initiative. However, 乐天堂fun88(中国区)官方网站 management firmly believes that the combination of Hexion and 乐天堂fun88(中国区)官方网站 Corporation will be solvent.
About 乐天堂fun88(中国区)官方网站:
乐天堂fun88(中国区)官方网站 is a global manufacturer and marketer of differentiated chemicals. Its operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging and, later, for rapid and integrated growth in petrochemicals, 乐天堂fun88(中国区)官方网站 today has 13,000 employees and operates from multiple locations worldwide. The company had 2007 revenues of approximately $10 billion. For more information, please visit the company's website at .
Forward-Looking Statements:
Statements in this release that are not historical are forward-looking statements. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed in the 乐天堂fun88(中国区)官方网站 companies' filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, financial, economic, competitive, environmental, political, legal, regulatory and technological factors. In addition, the completion of any transaction described in this release is subject to a number of uncertainties and closing will be subject to approvals and other customary conditions. Accordingly, there can be no assurance that such transactions will be completed or that the company's expectations will be realized. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.
SOURCE 乐天堂fun88(中国区)官方网站 Corporation
Released August 29, 2008