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SALT LAKE CITY (AP) - A $1.5 billion personal windfall from a company that started life leveraged to the hilt.
It's not a bad payoff for Utah industrialist Jon Huntsman Sr., who said Tuesday he sold chemicals conglomerate Huntsman Corp. to Basell, a holding of U.S. industrialist Len Blavatnik's Access Industries, in a cash deal worth $5.6 billion.
Huntsman said the sale will yield nearly $1.5 billion cash for his family — and that he transferred $600 million worth of stock on Monday to the Huntsman Foundation, devoted to fighting cancer.
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