U.S.-based Huntsman Corp and Switzerland's Clariant AG merge to make major chemical manufacturer

Record ID: 875804

  • Title: U.S.-based Huntsman Corp and Switzerland's Clariant AG merge to make major chemical manufacturer
  • Date: 22nd May 2017
  • Summary: LONDON, ENGLAND, UK (MAY 22, 2017) (REUTERS) (SOUNDBITE) (English) BGC PARTNERS MARKET STRATEGIST, MIKE INGRAM, SAYING: "If you look at the statements in and around most of this activity it is generally framed in a way so that they can extract cost cuts from these businesses. We are still in an environment where top line growth remains extremely elusive and pricing power is also not there."
  • Embargoed: 5th June 2017 12:14
  • Keywords: chemicals companies acquisitions mergers M&A Hunstman Clariant
  • Location: BASEL, ZURICH, SWITZERLAND + LONDON, ENGLAND, UK + GEISMAR, LOUISIANA, UNITED STATES + UNKNOWN LOCATION
  • City: BASEL, ZURICH, SWITZERLAND + LONDON, ENGLAND, UK + GEISMAR, LOUISIANA, UNITED STATES + UNKNOWN LOCATION
  • Country: Switzerland
  • Topics: Company News Markets,Economic Events
  • Reuters ID: LVA0026HX7FRH
  • Aspect Ratio: 16:9
  • Story Text: U.S.-based Huntsman Corp and Switzerland's Clariant AG are combining to create a chemical manufacturer with a market value of more than $14 billion, they said on Monday (May 22), after years of tentative mutual approaches.
    The deal creates a global specialty chemicals company that is 52 percent own by Clariant shareholders and valued at around $20 billion when including debt, Clariant said in a statement.
    Clariant and Huntsman previously ended merger talks late last year over a disagreement about who would play the lead role.
    Many European companies have embarked on deal making as growth in the chemicals industry has slowed. European businesses have particularly suffered, losing market share to rivals in Asia, where demand is growing faster, or to North America, where energy is cheaper.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2017. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register