Swiss Clariant re-affirms commitment to Huntsman merger

HOUSTON (ICIS)–Switzerland-based Clariant re-affirmed on Tuesday its commitment to a merger with Huntsman.

Clariant’s statement came after an activist fund, White Tale Holdings, raised its stake in the company and repeated its objection to the deal.

The two companies announced the merger of equals earlier this year.

Clariant said the deal is a continuation of its strategy to become a world leader in specialty chemicals.

The merger does not undervalue Clariant’s stock and should create additional value for shareholders, the company said.

Clariant said selling its plastics and coatings business today would not create value.