HSR Waiting Period Expires for Olin-Huntsman Merger, Clearing Key Hurdle
HUN sits 32% above its 52-week low of $7.295.
Summary
The Hart-Scott-Rodino waiting period for the proposed Olin-Huntsman merger has expired, clearing a key regulatory hurdle and satisfying a key closing condition to the pending merger of equals. This follows the June 16 announcement of the all-stock merger of equals to form OlinHuntsman Corporation, a $12.5 billion chemicals leader. The expiration removes antitrust uncertainty and moves the deal closer to completion, with shareholder votes and other closing conditions still pending. The market will now focus on the upcoming shareholder meetings and any remaining regulatory approvals.
At the time of this announcement, HUN was trading at $9.63 on NYSE in the Manufacturing sector, with a market capitalization of approximately $1.7B. The 52-week trading range was $7.30 to $16.09. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.