India, June 16 -- Chemical makers Olin Corp. (OLN) and Huntsman Corp. (HUN) announced on Tuesday that they have agreed to combine in an all-stock merger of equals to create a North American chemicals company worth more than $12 billion.
In pre-market activity on NYSE, shares of Huntsman were down 8.78 percent, changing hands at $14.50, after closing Monday's regular session 1.52 percent higher.
In pre-market activity on NYSE, shares of Olin were down 1.22 percent, changing hands at $25.00, after closing Monday's regular session 0.68 percent higher.
Under the deal, Huntsman shareholders will receive 0.5476 Olin shares for each Huntsman share. Upon closing, Olin shareholders will own about 54.5 percent of the combined company and Huntsman ...