peHUB First Read
* Huntsman v. Hexion is finally over, with Hexion owner Apollo Management agreeing to pay around $1 billion in total penalties (some of which involve the purchase of Huntsman convertible securities). Add to this whatever Apollo shelled out in legal fees, and it's a disastrous deal. Only way it could have been worse were if Huntsman had refused to settle, and taken Apollo for billions in court. * The Private Equity Council this morning released a new study on how the U.S. can maintain its "global economic leadership." Not PE-specific, although there is some stuff about enabling private investment in infrastructure. Here's the full report. * Morning Call: U.S. futures point lower, FTSE up a bit at mid-day, other European shares also rise, Nikkei and Hong Kong both up. * VC-backed companies assume that once they've raised money at a certain valuation, that's that. But BitTorrent is learning a different lesson, after it's investors insisted on renegotiating both the dollar amount and valuation of a recent "$17 million" round.
