Will Huntsman (HUN) Go Down the Takeover Path Again?

Huntsman Corp. (NYSE: HUN) shares touched their highest mark in over a year in early trading today amid talk that the company could be a takeover target, with EI DuPont de Nemours & Co. (NYSE: DD) being mentioned as a potential suitor.

Shares for Huntsman rose as high as $10.86, a 9.5 percent jump and the highest value since November 2008. The shares pared back to $10.26, up 3.4 percent later in the trading session. The company’s stock has gained 40 percent since October 28.

In 2007, Hunstman agreed to a merger Hexion, an affiliate of private equity firm Apollo Management LP. The deal later fell apart due to the collapse of the credit market. In 2008, Hunstman agreed to receive a $1 billion settlement from Apollo for it backing out of the deal.

No one at the company was available to comment on the speculation.

With a bad taste in its mouth from the last time around, you can bet that if there is another potential deal on the table Huntsman is going to want to visit the vault to see the cash before signing the company over.

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