Blackstone, Apollo reportedly eye Chemtura

A pair of private-equity firms are in the early stages of arranging financing to acquire Chemtura Corp., a specialty-chemicals company with a market capitalization of about $1.9 billion, The Wall Street Journal said Tuesday.

Blackstone Group LLP and Apollo Management LP reportedly are interested in Middlebury, Conn.-based Chemtura Chemtura's shares rose nearly 20% in premarket trading to $9.22. They're down more than 33% since striking a 52-week high of $11.86 last July.

Talks between the three parties are in initial stages and could fall apart, the Journal said, citing a person familiar with the situation. Issues include Chemtura's fair valuation and how to finance any agreed-upon deal.

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- Posted: 2008-05-27 08:35:58

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