HuntsmanClariant Deal Moves Forward
MUTTENZ, Switzerland – Clariant AG announced progress towards satisfying the regulatory approval condition to closing its merger of equals with Huntsman Corp. The United States Federal Trade Commission (FTC), which reviews the antitrust implications of certain business combinations, 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 $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 the companies continue to expect to close around year-end.
The regulatory clearance process continues to move forward in other jurisdictions as well, and the companies continue to move forward on the planned timeline.