May 21 Hunstman Corp and Clariant AG
are set to announce their merger on Monday, creating a
chemical manufacturer with a market value of more than $14
billion, people familiar with the matter said on Sunday.
The Wall Street Journal reported earlier on Sunday, citing
sources, that Clariant shareholders stood to own about 52
percent of the combined company following the merger, with
Huntsman shareholders owning the remainder.
The newspaper added that Huntsman Chief Executive Peter
Huntsman would become CEO of the combined company, while
Clariant CEO Hariolf Kottmann would become chairman, with board
representation evenly split.
The sources asked not to be identified because the
negotiations are confidential. A Huntsman spokesman declined to
comment, while Clariant did not immediately respond to a request
(Reporting by Greg Roumeliotis in New York; Editing by Peter