Huntsman and Clariant to Combine in Merger of Equals

Huntsman Corporation and Clariant announced that their Boards of Directors unanimously approved a definitive agreement to combine in a merger of equals through an all-stock transaction.

The merged company will be named HuntsmanClariant. On a pro forma 2016 basis, the combination of both companies will create a global specialty chemical company with sales of approximately $13.2 billion, an adjusted EBITDA of $2.3 billion and a combined enterprise value of approximately $20 billion at announcement.

The combined entity will leverage each other’s strengths, which should result in improved growth in its focused end markets and geographies. HuntsmanClariant will leverage shared knowledge in sustainability and create a joint innovation platform, which will help accelerate the development of new products that should help to deliver higher returns and increased shareholder value.

Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated chemicals with 2016 revenues of approximately $10 billion.

Clariant is a global specialty chemical company, based in Muttenz near Basel/Switzerland. On December 31, 2016, the company employed a total workforce of 17,442. In fiscal year 2016, Clariant recorded sales of approximately CHF 6 billion ($6.17 billion US).

The transaction is targeted to close by year-end 2017.