Huntsman-Clariant Merger on Track
The preparations to create HuntsmanClariant are reportedly proceeding as planned.
Clariant and Huntsman Corp. recently presented a first update on the planned merger of equals to keep shareholders informed. The preparations to create HuntsmanClariant, are reportedly showing continued strong progress and are proceeding as planned with an unchanged closing targeted for December 2017/January 2018.
The companies have agreed on a joint strategic direction for near- and long-term value creation based on continued focus on higher growth and higher margin businesses, expansion of existing strong downstream presence, reaping benefits of complementary product portfolios and breadth of reach to deliver an additional organic sales revenue growth of around 2% p.a. at approx. 20% earnings before interest, taxes, depretiation and amortization (EBITDA) margin and delivering synergies in excess of $400 million as well as the $25 million tax savings.
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