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Blackstone, Apollo Mull Buying Chemtura

Private equity firms Apollo Management and Blackstone Group are weighing the purchase of chemicals company Chemtura, but discussions are at an early stage, a source familiar with the situation said Tuesday.

The private equity firms are still arranging financing and a price tag for Chemtura has not been finalized, the source said.

The talks could fall apart and many details must still be resolved, the source said.

Chemtura, which has a market capitalization of about $1.9 billion, had said in December it was pursuing strategic alternatives.

Apollo and Chemtura could not be immediately reached for comment.

Blackstone declined to comment.