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.
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