Cementing the merger deal, Clariant AG has announced to buy Huntsman Corporation for about US $ 6.4 billion in stock. The deal has created a global specialty chemicals company named – ‘HuntsmanClariant’ – which is 52 per cent owned by Clariant shareholders and valued at around US $ 20 billion when including debts.
According to Huntsman, the combined entity will benefit from the both company’s strengths and will have a significantly improved growth profile in highly attractive end markets and geographies. Additionally, HuntsmanClariant will leverage shared knowledge in sustainability and boast a much stronger joint innovation platform. This will enable the development of new products in order to deliver superior returns and drive shareholder value.
Also Read – Huntsman Corporation shuffles management
Hariolf Kottmann, CEO of Clariant, commented, “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,” adding, “This is in the best interest of all of our stakeholders. Peter Huntsman and I share the same strategic vision and I look forward to working with him.”
Adding to that, Peter R. Huntsman, President and CEO of Huntsman, said, “I could not be more enthusiastic about this merger and look forward to working closely with Hariolf Kottmann, a man I have admired and trusted for the past decade.”
It’s worth recalling that Clariant and Huntsman previously ended merger talks in 2016 over a disagreement about who would play the lead role.
