Bain Capital, the firm once led by Mitt Romney, is one of the companies that might purchase Huntsman Corp., a chemicals company founded by the father of former Republican presidential candidate Jon Huntsman, Reuters reports.
Bank of America Merrill Lynch has pitched the company, which has a market value of about $2.8 billion and has nearly $4 billion in debt, to several private equity firms across the country, including Bain, KKR & Co, Advent International and Warburg Pincus. The decision as to which firm the company goes to is in part up to the elder Huntsman, who fueled his son’s presidential ambitions through several large donations.
After dropping out of the presidential election in January, Huntsman endorsed Romney for the nomination. Although he has spoken as a Romney supporter, the former Utah governor and U.S. ambassador has sometimes been critical of Romney’s policies toward China.