(Corrects day in last paragraph to Wednesday from Thursday. (New details throughout, adds NEW YORK to dateline)

NEW YORK, June 26 (Reuters) - Chemicals company Chemtura Corp CEM.N said on Thursday it has ended talks on a potential sale of the company after determining that such discussions are unlikely to result in an attractive offer.

Private equity firms Apollo Management and Blackstone Group (BX.N: Quote, Profile, Research) were previously weighing the purchase of Chemtura, a source told Reuters in May. At the time, the private equity firms were working to arrange financing and a price tag for Chemtura, which had a market capitalization of about $2 billion.

The company said a special committee of its board and its financial adviser Merrill Lynch & Co MER.N will consider divestitures, value-creating acquisitions, changes in the company's capital structure and other strategic options.

It said its board has determined that shareholders' interests will be best served if Chemtura continues to operate as a stand-alone company.

Shares of Chemtura closed at $8.18 on the New York Stock Exchange on Wednesday. (Reporting by Joshua Brown, editing by Dave Zimmerman)