Clariant AG has received a letter from White Tale Holdings stating that it has increased stake in Clariant above 15 percent.
Also, White Tale has underscored its disapproval to the merger of equals between Huntsman and Clariant.
The company said that its board of directors reconfirms its decision that the planned merger is the best value creating option for all shareholders and will, thus, not depart from the binding agreement White Tale's open letter does not contain any additions to claims previously made; in particular no tangible alternative to superior value creation is presented since announcement the vast majority of Clariant's shareholders have expressed their support for the deal Clariant will continue the constructive dialogue with all its shareholders.
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