Exhibit 99.1
July 4, 2008
BY FACSIMILE AND OVERNIGHT COURIER
William Carter
Hexion Specialty Chemicals, Inc.
180 East Broad Street
Columbus, Ohio 43215
Facsimile: (614) 225-7495
RE: Extension of Termination Date
Dear William:
In accordance with the Agreement and Plan of Merger among Hexion Specialty Chemicals, Inc., Nimbus Merger Sub Inc. and Huntsman Corporation (the “Company”) dated as of July 12, 2007 (the “Merger Agreement”), we hereby notify you that the Company has elected to extend the Termination Date (as defined in the Merger Agreement) by 90 days to 5:00 p.m. Houston time on October 2, 2008. In electing to extend the Termination Date, the Company does not waive any right, power or privilege under the Merger Agreement (including with respect to any breach of the Merger Agreement prior to the date hereof by you).
If you have any questions, please feel free to contact me directly.
Sincerely,
Peter R. Huntsman
President and Chief Executive Officer
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cc: |
Joshua J. Harris Scott Kleinman Apollo Management VI, L.P. |
10003 Woodloch Forest Drive, The Woodlands, Texas 77380
Tel: 281-719-6000 Fax: 281-719-6416 www.huntsman.com