Joel Greenberg Quoted in Chemical & Engineering News on Huntsman Bid to Force Hexion to Complete Acquisition
October 20, 2008
Joel Greenberg, Co-Chair of the Corporate & Finance Department, was quoted in the October 20, 2008 Chemical & Engineering News article titled "Huntsman Is On A Roll - Legal Victories Appear to be Forcing Hexion Into a Corner." The article discusses Huntsman Corp.'s recent legal victories that could have forced Hexion Specialty Chemicals to complete its acquisition of Huntsman. Despite Hexion arguing that the combined company would be insolvent, the Delaware Court of Chancery ordered Hexion to "perform all of its covenants and obligations" under the merger agreement. Mr. Greenberg predicted the deal will close: "The Delaware case was a close-to-total victory for Huntsman and didn't leave Hexion a lot of maneuvering room. In his opinion the judge hinted that there will be substantial damages if they don't close."