US/Switzerland: Huntsman and Clariant are in $14 billion merger talks

Huntsman and Clariant are in talks to merge in a transatlantic deal that would create a chemicals company valued at about $14 billion, according to a person familiar with the discussions.

The US and Swiss companies are discussing a deal in which Clariant would own about 52 percent of the new entity to be called Huntsman-Clariant, according to the person, who asked not to be identified discussing the talks. Huntsman Chief Executive Officer Peter Huntsman would hold that title for the combined company and the board would be evenly split, with Clariant CEO Hariolf Kottmann as chairman. An announcement may come as soon as Monday.

An agreement between Huntsman and Clariant would add to an already historic level of deals in the industry as CEOs seek to bolster tepid sales growth with acquisitions. Global chemical companies have more than $300 billion in M&A planned, according to a report by AT Kearney published in March. That level is more than twice the previous all-time high set at the end of 2015, according to the management consulting firm.

Full Content: Wall Street Journal

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