Huntsman Rises After DealReporter Says It Hired Bank
Huntsman Corp. (HUN), the U.S. chemicals producer founded by Jon Huntsman Sr., rose the most in three weeks after DealReporter said it hired Bank of America Corp. to explore a potential sale of the company.
Huntsman rose 5.6 percent to $14.79 as of 2:20 p.m. in New York. Earlier it climbed as much as 6.1 percent, the biggest intraday gain since March 8.
DealReporter cited two people in the industry whom it didn’t identify. Gary Chapman, a spokesman for Huntsman, which is run from Salt Lake City and The Woodlands, Texas, declined to comment in an e-mail.
Jon Huntsman Sr. said in a March 8 investor presentation that he’d pursue a sale of the company “at the right price” because it’s being undervalued by the market.
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