HuntsmanClariant Deal Continues to Move Forward: Narrow “Second Request” for Additional Information Received from Federal Trade Commission
| Subj: Press-releses
Clariant AG is pleased to announce progress towards satisfying the regulatory approval condition to closing its merger of equals with Huntsman Corporation. The United States Federal Trade Commission, which reviews the antitrust implications of certain business combinations, late yesterday delivered a second request for information to the parties relating to just two products − sodium isethionate, used in personal care products like soap and shampoos, and a polyetheramine product used in certain construction and additive/paint and ink applications. These products accounted for less than USD 24 million in total revenues of each of the two companies in the United States in 2016, and Clariant is confident that the parties will be able to satisfy any FTC concerns on a timeline consistent with the merger, which we continue to expect to close around year-end.
The regulatory clearance process continues to move forward in other jurisdictions as well and we continue to move forward on this timeline.
Clariant is a globally leading specialty chemicals company, based in Muttenz near Basel/Switzerland. On 31 December 2016 the company employed a total workforce of 17 442. In the financial year 2016, Clariant recorded sales of CHF 5.847 billion for its continuing businesses. The company reports in four business areas: Care Chemicals, Catalysis, Natural Resources, and Plastics & Coatings. Clariant’s corporate strategy is based on five pillars: focus on innovation through R&D, add value with sustainability, reposition portfolio, intensify growth, and increase profitability.