Huntsman Corp. Shares Up After Starboard Reports Stake - MarketWatch

By Stephen Nakrosis

Shares of chemicals company Huntsman Corp. are trading higher on the New York Stock Exchange Tuesday, following news that activist hedge fund Starboard Value LP took a stake of more than 8% in the company.

The news was first reported by The Wall Street Journal on Monday and later confirmed by Starboard in a filing with the U.S. Securities and Exchange Commission.

At 11:25 a.m. ET, shares of Huntsman were trading 6.88% higher, at $30.01 a share.

Also on Tuesday, Huntsman said it was forming a joint venture with South Korea's KPX Chemicals to "create and provide innovative polyurethane system solutions to Korean automakers."

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

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