Huntsman Down 10% After Starboard Issues Open Letter To Shareholders

Huntsman Corp. (HUN) shares are sliding more than 10 percent on Friday morning trade after shareholders voted to elect all 10 of its director nominees, while Starboard Value LP, one of the largest shareholders of Huntsman, delivered an open letter to Starboard shareholders. The letter says the company is disappointed by the results of the election and the shareholders expect the Huntsman board to fulfill its promises.

Currently, shares are at $36.04, down 10.92 percent from the previous close of $40.46 on a volume of 3,352,680. For the 52-week period, the shares have traded in a range of $24.10-$41.65 on average volume of 2,489,883.

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