ZURICH May 22 U.S.-based Huntsman Corp
and Switzerland's Clariant AG said on Monday they are
combining to create a chemical manufacturer with a market value
of more than $14 billion.
The deal, which the companies called a "merger of equals",
creates a global specialty chemical company with approximately
$20 billion enterprise value, Clariant said in a statement.
The transaction, previously reported by Reuters, is targeted
to close by the end of the year. The company will be named
The deal combines Clariant, a Muttenz, Switzerland-based
maker of aircraft de-icing fluids, pesticide ingredients and
plastic coloring, with Woodlands, Texas-based Huntsman, whose
chemicals are used in paint, clothing and construction.
(Reporting by John Miller; Editing by Muralikumar Anantharaman)