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Activist has 15.1 percent Clariant stake, fights Huntsman deal

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Activist has 15.1 percent Clariant stake, fights Huntsman deal

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ZURICH (Reuters) – Activist investor Keith Meister’s Corvex hedge fund and New York’s 40 North now hold a joint 15.1 percent stake in Clariant <CLN.S>, as they push on with their fight against the Swiss chemical maker’s planned $20 billion (14.80 billion pounds) merger with Huntsman Corp <HUN.N>. Clariant said in July White Tale Holdings, the vehicle created to buy the stake, held “in excess of 10 percent” of shares. In a letter to Clariant’s board of directors published on Tuesday, White Tale maintained its opposition to the Huntsman deal, urged Clariant to look at strategic alternatives and said it was open to taking a seat on the company’s board.

(Reporting by Joshua Franklin; Editing by Michael Shields)
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