Status: Upcoming/New Filing

Acquirer: Clariant Ltd. (Switzerland)

Acquired: Huntsman Corporation (US)

Value: Unknown; combined enterprise value of approximately US$20 billion

Industry: Chemicals

On May 21, 2017, Huntsman Corporation, a Delaware corporation, and Clariant Ltd., a Swiss corporation, entered into an Agreement and Plan of Merger pursuant to which a wholly-owned subsidiary of Clariant will merge with and into Huntsman, with Huntsman being the surviving corporation and a wholly-owned subsidiary of Clariant. (See Huntsman Form 8-K, May 23, 2017, SEC Filing.) Huntsman is a global manufacturer and marketer of differentiated chemicals, with more than 100 manufacturing and R&D facilities, and with 5 business divisions (including the Pigments and Additives division, which it intends to IPO as Venator Materials Corporation). (See Huntsman Press Release, Huntsman and Clariant to Combine in Merger of Equals, May 21, 2017.) Clariant is a global specialty chemical company based in Muttenz near Basel/Switzerland, with four business areas in Care Chemicals, Catalysis, Natural Resources, and Plastics & Coatings. (Id.) Huntsman and Clariant have approved the transaction as a merger of equals. (Id.) The merged company will be named HuntsmanClariant with a combined enterprise value of approximately US$20 billion. (Id.) According to the merger agreement, Committee on Foreign Investment in the United States (CFIUS) approval is a condition of closing. (See Agreement and Plan of Merger, § 7.1(e), Huntsman Form 8-K, Ex-2.1, SEC Filing, May 21, 2017.)