Daily Management Review

Huntsman & Clairant In A ‘$20 Billion’ Merger To Create A Global Chemical Firm


05/26/2017


New firm ‘HuntsmanClariant’ will provide “substantial financial strength and flexibility”.



Huntsman & Clairant In A ‘$20 Billion’ Merger To Create A Global Chemical Firm
Huntsman and Clairant are in a merger agreement, whereby both the chemical companies reported about its merger plans of creating a “global firm” under the name of HuntsmanClariant with a value of “$20 billion”.
 
An “all-stock transaction” will take place to execute the merger, while there are expectations that this step will “boost” the “growth prospects of the new entity”, revealed a joint statement from both the companies. Fifty two percent of HuntsmanClariant’s shares will be owned by Clairant’s shareholders, whereas the remaining forty eight percent will be with the Huntsman’s.
 
In the words of the Chief Executive Officer at Clairant, Hariolf Kottmann:
“This is the perfect deal at the right time. Clariant and Huntsman are joining forces to gain much broader global reach, create more sustained innovation power and achieve new growth opportunities”.
 
While, the Chief Executive Officer as well as the President of Huntsman, Peter R. Huntsman, added that the new venture will be “a global leader in specialty chemicals with a combined balance sheet providing substantial financial strength and flexibility”.
 
References:
http://www.cnbc.com







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