February 14, 2018 / 9:13 AM / 2 months ago

BRIEF-Clariant spent 50 mln Sfr on failed merger, activist defense

Feb 14 (Reuters) - Clariant:

* CEO SAYS PLANS TO GIVE STRATEGIC UPDATE IN ‘SUMMER OF THIS YEAR’ FOLLOWING DISCUSSIONS WITH SABIC

* CEO SAYS CONSIDERS SABIC A STRATEGIC ANCHOR SHAREHOLDER WHICH WILL ALLOW CLARIANT TO CONTINUE IN ITS CURRENT STRUCTURE

* CFO SAYS COSTS RELATED TO WHITE TALE DEFENSE, EFFORTS TO MERGE WITH HUNTSMAN WERE ABOUT 50 MILLION SFR

* CEO SAYS EXPECTS TO TALK ABOUT AGREEMENT WITH SABIC IN JULY

* CEO SAYS SABIC HAS NO PLANS TO TAKE OVER SWISS COMPANY, EXPECTS THIS TO BE PART OF CONTRACT WITH CLARIANT

* CEO SAYS HAVING SABIC AS A STRATEGIC SHAREHOLDER OFFERS MORE OPPORTUNITIES TO DEVELOP VALUE OF CLARIANT THAN A MERGER WITH PEER, INCLUDING HUNTSMAN Source text for Eikon: Further company coverage: (Reporting by John Miller)

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