AET rejects Huntman proposal

Applied Extrusion Technologies, Inc. announced Aug. 14 that its Board of Directors had unanimously rejected the unsolicited and conditional proposal of Huntsman Packaging Corp.

to acquire all of the outstanding Common Stock of AET for a cash price of $10.50 per share. At press time, Huntsman upped it's offer to $12.50 per share. AET is a developer and manufacturer of specialized plastic films used primarily in consumer product labeling, flexible packaging and health care applications.

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