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Clariant rejects appeal to rethink Huntsman merger

Muttenz, Switzerland – Swiss chemical giant Clariant AG has rejected a request to rethink its planned €20bn (€16.6bn) merger of equals with US-based Huntsman Corp.

In an open letter to Clariant, White Tale, which is a Cayman Island-based investment partnership set up by New York-based Corvex Management and 40 North Management, urged Clariant to reconsider the deal as it lacked “strategic merit”.

The activist stakeholder also increased its stake in the swiss chemicals group to more than 15%, becoming the biggest stakeholder in the group on 19…

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