I guess some deal makers don't take off for the Fourth of July. That appears to be the case with Apollo Management.
The firm has made a $6.35 billion offer for Huntsman Corp. (NYSE: HUN), a large chemical operator.
Huntsman appears to be a hot commodity. Keep in mind that on June 26, the company agreed to a $6 billion buyout from Basell AF.
Apollo has a lot of history in the chemical business. In fact, the firm plans to merge Huntsman with its Hexion Specialty Chemicals company. All in all, it looks like a pretty good fit.
It would also bring scale. While Hexion has sales under $5 billion, Huntsman generates sales of about $10.6 billion.
Basically, the Huntsman family wants to get liquidity for its charitable mission. And Apollo looks like it could give those efforts a nice boost.
Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.
