Jul
03
Clariant Said to Be Targeted by Activist Hedge Fund Corvex
By-
Corvex said to build stake above 3% disclosure threshold
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Activist investor said to oppose Clariant deal with Huntsman
Activist hedge fund Corvex Management has built a stake in Clariant AG in a move designed to undo the Swiss chemicals maker’s $6.4 billion planned takeover of Huntsman Corp., according to people with knowledge of the situation.
Corvex, which has built a stake in Clariant that exceeds the disclosure threshold of 3 percent, plans to push the company to explore alternatives to the deal including a potential sale, said the people, who asked not to be named because the situation is private.
The activist investor believes the Huntsman acquisition, which was championed by Clariant Chief Executive Officer Hariolf Kottmann, lacks strategic rationale, the people said…
Clariant Said to Be Targeted by Activist Hedge Fund Corvex
