A group of Huntsman shareholders offered to provide more than 400 million to shore up Huntsman's balance sheet last week, in a further bid to prod Hexion Specialty Chemicals to follow through on its July 2007 agreement to acquire Huntsman for 10.6 billion. The shareholder group's offer follows Hexion's refusal to consider a 500-million financing commitment from the group late last month in the form of contingent value rights (CVR) that would have entitled investors to repayment only if Hexion generated a specified annual rate of return.
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