07.12.17
According to reporting by Reuters, activist investor Keith Meister's Corvex hedge fund and New York's 40 North have taken a 7.2 percent stake in Clariant to fight the Swiss chemical maker's planned merger with Huntsman Corp.
"There are excellent opportunities to unlock value from the many high quality businesses that currently comprise Clariant," said a spokesman for White Tale, the vehicle created to buy the stake. "Unfortunately, we do not believe that the proposed merger with the Huntsman Corporation is one of those options."
Clariant and Huntsman originally announced the planned merger in May. Valued at approximately $20 billion the deal was touted as a “merger of equals.”
"There are excellent opportunities to unlock value from the many high quality businesses that currently comprise Clariant," said a spokesman for White Tale, the vehicle created to buy the stake. "Unfortunately, we do not believe that the proposed merger with the Huntsman Corporation is one of those options."
Clariant and Huntsman originally announced the planned merger in May. Valued at approximately $20 billion the deal was touted as a “merger of equals.”
