* Apollo Management may be backing out of its $6.5 billion buyout of specialty chemical company Huntsman (HUN), saying that the bank financing is in jeopardy due to Huntsman’s weakened financial condition. The threat, of course, weakened the company even further, driving down its shares nearly 40% in aftermarket trading. For its part, Huntsman promises a fight.
* Megan Davies writes that the leveraged loan backlog has thinned out, but that it’s still no cure for the LBO blues.
* Huawei may sell a majority stake in its handset business for around $4 billion. Lots of firms are interested, but you’d have to think Bain has an inside track thanks to its prior partnership with Huawei on the failed 3Com transaction.
* Carney says that Lehman chief Dick Fuld may have to go, unless he warms to the idea of selling the firm.
* Kedrosky on financial measures and VC returns.
* Bear Stearns hedge fund managers might have given themselves away via email.
* Arrington tries keeping track of former Yahoo execs.
* European private equity fundraising was down last year, according to a new report from the EVCA.
* It’s 7:130am, and still no sign of Carl Icahn’s first blog post…