Ciba, Clariant shares rise on Huntsman interest

20 June 2007 11:46  [Source: ICIS news]

LONDON (ICIS news)--Shares in Swiss specialty producers Clariant and Ciba jumped on Wednesday after a German newspaper reported Huntsman citing the companies as possible takeover options.

 

Huntsman chief executive Peter Huntsman told Handelszeitung in excerpts from a pre-release interview that both companies would be of interest but ruled out a hostile takeover.

 

Ciba Specialty Chemicals shares rose 3% to €49.50 ($66.33) while Clariant stocks hit €12.40 in early morning trading, up over 2% from Tuesday’s close.

 

Both companies have been facing severe competitive pressure from producers in Asia who are focused on higher added-value markets.

 

Last year Huntsman bought Ciba’s Textile Effects unit for Swiss francs (Swfr) 330m (€198m/$265m). Ciba had said it would focus on its core businesses plastic additives, coating effects and water & paper treatment.

 

Huntsman were unavailable to comment on Wednesday morning.

 

($1 = €0.74/Swfr1.24)

 

By: Mark Watts
+44 20 8652 3214

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