huntsman corp

Hexion Specialty Chemicals received a $540 million pledge to help it close its fiercely contested takeover of Huntsman Corp.

StreetInsider.com Morning Movers: Huntsman Corp. (NYSE: HUN) 40% HIGHER; Hexion Specialty Chemicals said it is proceeding expeditiously to seek to close its merger with Huntsman.

Hexion said, to assist it in closing the merger, affiliates of Apollo Management, L.P. have agreed to make a capital contribution of $540 million to Hexion.

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Ruby Tuesday (NYSE: RT) 12% LOWER; reports Q1 EPS of $0.01, versus the analyst estimate of $0.11.

Hexion Specialty Chemicals Inc. said Wednesday it no longer thinks that will be able to acquire fellow chemicals maker Huntsman Corp. because of the deterioration of Huntsman's finances.

Huntsman shares fell nearly 38 percent.