Huntsman in talks to sell textiles business to SK Capital – Bloomberg (NYSE:HUN)

Huntsman (NYSE:HUN) is in advanced talks to sell its textiles unit to private equity firm SK Capital Partners in a deal that would value the business at less than $1B, Bloomberg reported on Tuesday.

The textile unit, which is headquartered in Singapore, totaled ~$100M in adjusted EBITDA in 2021.

SK Capital could combine the unit with Archroma, the business it built when it bought textile chemicals, paper specialties and emulsions assets from Clariant AG in 2013, according to the report.

Huntsman (HUN) said in December that it was conducting a strategic review for the unit

Read More Huntsman in talks to sell textiles business to SK Capital – Bloomberg (NYSE:HUN) Read More

US refiners to urge Biden administration not to ban fuel exports – Reuters (NYSEARCA:XLE)

AvigatorPhotographer/iStock via Getty Images

U.S. oil refiners will try to convince the Biden administration not to ban exports of domestic fuel to combat record-high gasoline prices during tomorrow’s scheduled meeting with Secretary of Energy Jennifer Grandholm, Reuters reported on Wednesday.

Refining executives reportedly will seek to make the case that an export ban would anger allies and lead to refining production cuts as companies lose access to global markets that have become crucial to revenues, ultimately raising prices.

Potentially relevant tickers include (NYSEARCA:XLE), (NYSEARCA:CRAK), (XOM), (CVX), (VLO), (

Read More US refiners to urge Biden administration not to ban fuel exports – Reuters (NYSEARCA:XLE) Read More

Jetblue boosts offer for Spirit Airlines to $33.50/share (NASDAQ:JBLU)

Angel Di Bilio/iStock Editorial via Getty Images

Update 7:30pm: Adds Spirit Airlines comment.

Jetblue (NASDAQ:JBLU) raised its offer for Spirit Airlines (NYSE:SAVE) to $33.50/share as it continues to battle with Frontier Group (NASDAQ:ULCC) for the ultra-low cost carrier.

Jetblue upped its latest bid by $2/share from its most recent offer two weeks ago. In the latest offer Spirit stockholders would receive total aggregate consideration of $33.50 per share in cash, comprised of $32.00 per share in cash at the closing of the transaction and the prepayment of $1.50 per share

Read More Jetblue boosts offer for Spirit Airlines to $33.50/share (NASDAQ:JBLU) Read More