Huntsman Corp gains; activist investor Starboard discloses large stake

Kpx Chemical

28/09/2021 13:27

** Shares of chemicals producer Huntsman Corp  HUN.N  up
5.3% premarket at $29.55, over 4-month high
    ** Activist hedge fund Starboard Value late Mon disclosed
8.4% stake in HUN, saying it bought the shares as they were
undervalued  urn:newsml:reuters.com:*:nL4N2QT3P1
    ** HUN has ~$6.2 bln market cap as of Mon close, per
Refinitiv data, making Starboard's stake worth just north of
$500 mln
    ** On Jul 30, co posted Q2 profit vs loss in yr ago period,
and CEO Peter Huntsman said demand in many of its businesses had
returned to pre-pandemic levels  urn:newsml:reuters.com:*:nL4N2P63GC  urn:newsml:reuters.com:*:nPnbr47YTa
    ** In other news, the Woodlands, Texas co on Tues announced
joint venture with KPX Chemical to provide Korean automakers
with advanced polyurethane systems solutions  urn:newsml:reuters.com:*:nPn5Jv6Vza
    ** YTD, HUN shares have risen ~12%

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))