Two Giants That Impact Denims Announce A Merger Of Equals
US based Huntsman Corp and Switzerland’s Clariant AG announced that they are combining to create a chemical manufacturer with a market value of more than $14 billion, after years of tentative mutual approaches.
The two companies informed 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 leading 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.
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