Basell, a global leader in polyolefin technology, production and marketing, and Huntsman Corp., one of the world’s largest manufacturers and marketers of differentiated chemicals and pigments, have signed a definitive agreement pursuant to which Basell will acquire Huntsman in a transaction valued at approximately $9.6 billion.

Basell, a global leader in polyolefin technology, production and marketing, and Huntsman Corp., one of the world’s largest manufacturers and marketers of differentiated chemicals and pigments, have signed a definitive agreement pursuant to which Basell will acquire Huntsman in a transaction valued at approximately $9.6 billion, including the assumption of debt.

Under the terms of the agreement, Basell will acquire all of the outstanding common stock of Huntsman for $25.25 per share in cash.

The transaction was unanimously approved by the Boards of Directors of both Basell and Huntsman. Huntsman's Board of Directors approved the transaction agreement at the recommendation of a Transaction Committee comprised of Huntsman independent directors. The transaction is subject to customary closing conditions, including regulatory approval in the U.S. and in Europe, as well as the approval of Huntsman shareholders.

For more information, visit www.basell.com or www.huntsman.com.