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News Summary: Huntsman to make $1.1B acquisition

The Associated Press

THE DEAL: Chemical maker Huntsman Corp. said Tuesday it will pay $1.1 billion in cash to buy two businesses from Rockwood Holdings Inc. Huntsman also will assume $225 million in unfunded pension liabilities as part of the deal.

ACQUISITION TARGETS: Huntsman will buy Rockwood's performance additives and titanium dioxide businesses.

THE BENEFIT: The deal will give Huntsman a broader product range that includes color pigments, functional additives and specialty titanium dioxide pigments. Huntsman also plans to pursue a public offering of the newly combined pigments business within two years of the deal's completion.