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...But Clariant has an incredibly broad product range, making chemicals for everything from the cosmetic industry to agriculture....
...Clariant is a producer of chemicals used in industries including personal care, petrochemicals and consumer goods....
...This was supposed to be the point when Clariant had put all of its old problems behind it after big changes.”...
...But Clariant has a big backer, state-owned oil producer Saudi Aramco via its chemical subsidiary, Sabic....
...’s past disclosures, and CHF 29 accounting for the special dividend paid in Jul 2020 – both significantly above the current Clariant price) and a group of former shareholders of Süd-Chemie AG owning 13.96%...
...On Thursday, Clariant said the companies have decided to temporarily suspend negotiations....
...Mr Occhiello, who was promoted in September last year, was previously a top manager with Clariant’s Saudi Arabian anchor shareholder Sabic....
...Clariant is pushing ahead with plans to focus on higher value specialty chemicals....
...The Saudi Arabian group repeated on Tuesday that it had no plans to launch a full takeover of Clariant....
...Clariant earlier this year fended off US activist investors demanding a shake-up of the Swiss company....
...Sabic said it “currently has no plans to launch or otherwise effect a full takeover of Clariant.”...
...At one stage it demanded three seats on Clariant’s board as well as an independent strategic review....
...In another instance, the proposed $20bn formation of a speciality chemicals conglomerate by Swiss group Clariant and US rival Huntsman was scuppered last year by a US activist shareholder group that included...
...Analysts said Thursday’s steep share price fall reflected the end of speculation about a break-up of Clariant....
...In addition, it wanted three White Tale representatives on the Clariant board and relevant strategy committees....
...Clariant would, too. A group capitalised at SFr8.6bn would face pressure to distribute a cash pile of SFr4bn. Meanwhile, Clariant is doing tolerably. Profits should rise at a fair lick in coming years....
...White Tale Holdings, which is composed of Corvex and a fund called 40 North, had built up a 20 per cent stake in Clariant....
...Clariant is a specialty chemicals group that was in dire shape when Hariolf Kottmann took over as chief executive late in 2008....
...Clariant continued to “successfully deliver on its strategy,” said Hariolf Kottmann, chief executive....
...But White Tale argued it undervalued Clariant and other options had not been properly explored....
...The companies acknowledged White Tale had won the backing of other Clariant shareholders....
...’s proposed merger with [Huntsman],” the letter to Clariant’s board said....
...Keith Meister and two other US activist investors have bought a stake in the Swiss chemicals group Clariant in the hope of derailing its $20bn merger with US rival Huntsman Corporation....
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