Clariant and Huntsman to combine into $20 billion global specialty chemical company

by Dramelin 7:00 AM 0 comments

Chemical companies Clariant and Huntsman said Monday they will merge into a $20 billion global firm called HuntsmanClariant.
The merger will be done through an all-stock transaction and is expected to boost growth prospects of the new entity, the two companies said in a statement.
Shareholders of Swiss firm Clariant will own 52 percent of the new entity, while shareholders of American company Huntsman will own the remaining 48 percent.
"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," said Clariant CEO Hariolf Kottmann.
President and CEO of Huntsman, Peter R.
Huntsman, said the new company will be "a global leader in specialty chemicals with a combined balance sheet providing substantial financial strength and flexibility.