GENEVA – Swiss specialty chemicals maker Clariant and Texas’ Huntsman Corp. will attempt to join and create a company with a market value of $13.8 billion, the latest proposed deal in a chemicals industry that is seeking to consolidate rapidly.
The companies said Monday they plan to combine in through an all-stock transaction. The resulting company would be named HuntsmanClariant, with stock exchange listings in both Zurich and New York.
If approved, Clariant shareholders would own 52 percent of the company and Huntsman shareholders would own 48 percent.
Closer to home
Huntsman operates one of its pigments and additives plants in Cartersville, Ga., and Clariant Plastics & Coatings USA Inc. operates a facility in Dalton, Ga.
The new firm will have global headquarters in Pratteln, Switzerland and operational headquarters in The Woodlands, Texas, where Huntsman is based. Clariant CEO Hariolf Kottmann is to become HuntsmanClariant’s board chairman while Huntsman CEO Peter Huntsman would hold that position in the combined company.