Clariant and Huntsman discard merger plans
The $20 billion merger was centered on the idea of creating an incorporated chemicals producer with a value of nearly $14 billion. Although, Clariant had previously announced that the plan was supported by the majority of stakeholders, an activist investor, White Tale Holdings opposed to this transaction and now this opposition is supported by some other shareholders.
White Tale Holdings argued that the merger plans were harmful for the company due to the fact that it displayed a shift in the company’s strategy, which involved moving the target on specialty chemicals to commodities.
Accordingly, the joint press release included that Clariant is currently focused on further strengthening the company’s market position as a major specialty chemicals company.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Escalating shipping costs hinder polymer demand in China, SE Asia
- Conditions in place for oil rally to continue, but potential headwinds lie ahead
- Spot PE markets recede from all-time high in Europe
- Turkey’s PP market starts to stabilize, will other polymers follow suit?
- Asian ethylene and propylene slide into steeper backwardation on demand, oversupply
- China PP, PE markets on nearly 3-month losing streak amid scant demand
- June PP, PE prices drop further on weakened activities in Egypt
- Europe’s PS, ABS markets come off peaks on plunging costs
- Asian polymer markets unfazed by crude oil rally
- India’s polymer demand slowly heals pandemic-inflicted wounds