July 20 (Reuters) - Activist investor Keith Meister’s Corvex hedge fund and New York’s 40 North have raised their stake in Clariant beyond 10 percent, the Swiss chemicals maker said on Thursday. “White Tale Holdings now hold a stake in excess of 10 percent (in Clariant),” the specialty chemicals maker said in a statement.
White Tale’s expanded investment is the latest twist in its efforts to fight Clariant’s planned merger with Huntsman Corp.
Earlier this month it emerged that White Tale had taken a 7.2 percent stake in Clariant, after the U.S investor said it did not believe the Huntsman deal was best way to unlock value.
Reporting by John Revill; Editing by Sunil Nair