Huntsman Corporation has announced that it has terminated discussions regarding existing proposals to acquire the company.

According to the company, after careful review of the proposals received, the company's prospects and other strategic initiatives available, as well as thorough discussions with the parties, the board of directors of the company and its special committee have concluded that none of the proposals were in the best interests of the shareholders.

Jon M. Huntsman, founder and chairman, said: "The Company appreciates the thoughtful and diligent review by the special committee and the board of directors throughout this process, which began with an unsolicited indication of interest. As a shareholder, I fully support this conclusion. While the last proposals were above the price of our IPO last year I believe they were not adequate, particularly in light of the risks, uncertainties and extended timing of the proposed transactions.

"Moreover, there are significant opportunities for our company going forward. We believe our historical stock prices have not reflected the full value of our differentiated businesses. Accordingly, we are continuing to evaluate the available alternatives for realising this potential."

Huntsman is a global manufacturer and marketer of differentiated and commodity chemicals. Its operating companies manufacture basic products for a variety of global industries including chemicals, plastics, footwear, and textiles.