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Clariant says Huntsman merger is on track

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Clariant says Huntsman merger is on track

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ZURICH (Reuters) – Swiss chemicals maker Clariant <CLN.S> said on Thursday its $20 billion (15.26 billion pounds) merger with peer Huntsman Corp <HUN.N> remained on track with a preliminary filing for approval from the U.S. authorities filed. Clariant said it had “high confidence” of meeting synergy targets of more than $400 million and $25 million in tax savings from combining the two companies. It said it had also identified additional organic sales revenues of around 2 percent per year at a profit margin of around 20 percent. Earlier this month Clariant revealed that U.S. activist investor White Tale Holdings has increased its stake to more than 10 percent as it seeks to block the planned merger with Huntsman.

(Reporting by John Revill; editing by Brenna Hughes Neghaiwi)
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