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Clariant and Huntsman merger on course

by ChemOrbis Editorial Team -
  • 05/09/2017 (14:44)
According to media reports, executives from the Swiss Clariant AG and the US based Huntsman Corp stated that their planned USD20 billion merger remained on track as the majority of Clariant’s shareholders support the plan.

The merger was announced in May this year with two companies declaring their aim to merge in order to create a chemical manufacturer with a market value of around USD14 billion. However, the plan was opposed by activist investor, White Tale Holdings, which argued the deal would be against Clariant’s focus on specialty chemicals over commodities.

Yet, Huntsman recently commented that the merger was needed to save costs and enable the companies to compete with competitors from China and India, meanwhile.

In mid-August, US regulators had asked for more information by the US Federal Trade Commission (FTC) relating to certain products on their proposed merger, while companies remained confident of closing the deal by the end of this year, according to industry sources.
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