2017.05.2203:23:00UTC+00Clariant Affirms $20 Billion Merger with Huntsman

Chemical groups Clariant and Huntsman announced a multibillion-dollar cross-border merger, which will enable the two firms to establish an industry powerhouse that will be called HuntsmanClariant.

The M&A will be an all-stock transaction and is seen to bolster growth outlook of the newly formed entity. Clariant shareholders will hold around 52 percent of the combined entity, while Huntsman investors will own only the left 48 percent. The new firm will have a combined market value of around $20 billion, according to a joint statement released.

Huntsman CEO Peter Huntsman will be at the helm of the new firm, while Clariant boss Hariolf Kottmann will be the company chairman.

Kottman said the deal was struck under the right circumstances, as the two firm combine to expand its global reach and establish a more sustained innovation power and reach new heights. Huntsman said that the new firm will be a global leader in the industry with a total balance sheet that has solid financial strength and versatility.

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