Huntsman Says Starboard Forcing Company Into Unnecessary Proxy Contest

Responding to Starboard Value's decision to nominate four directors to board, Huntsman Corp. (HUN) said Wednesday that it is deeply disappointed that Starboard is forcing the company and its shareholders through the cost and distraction of an unnecessary proxy contest.

The company alleged that Starboard is more concerned with installing their handpicked candidates on Huntsman's Board than allowing the Board and management team to create shareholder value, through multiple initiatives that Starboard supports.

Huntsman expects shareholders will appreciate the independence, experience and expertise of the company's refreshed Board of Directors, and they will benefit from a relentless and undistracted focus on clear financial targets designed to generate transparency and accountability for three successive years of record improved performance.

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