Huntsman, Clariant Near All-Stock Deal to Merge
Huntsman and Switzerland's Clariant are near an agreement to merge, an all-stock deal that would create a chemicals giant with a combined market value of about $14 billion, as companies in the industry seek ways to cut costs.
The deal, which could be announced as early as Monday, would create a trans-Atlantic company valued at about $20 billion, including debt, offering an array of chemicals that are used across industries ranging from aerospace to agriculture to household cleaning.
Huntsman Chief Executive Peter Huntsman would hold that title at the new company, with Clariant CEO Hariolf Kottmann taking the chairman role. The new group, with board representation evenly split, would be called HuntsmanClariant