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4-Traders Homepage  >  Equities  >  Swiss Exchange  >  Clariant    CLN   CH0012142631

CLARIANT (CLN)
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Clariant : Meister's Corvex Management targets Clariant - Bloomberg

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07/04/2017 | 12:28am CEST

(Reuters) - Hedge fund Corvex Management LP, run by activist investor Keith Meister, has built a stake in Clariant AG (>> Clariant) to undo the Swiss speciality chemical maker's $6.4 billion (5 billion pounds) planned takeover of Huntsman Corp (>> Huntsman Corporation), Bloomberg reported on Monday, citing people with knowledge of the matter.

(Reuters) - Hedge fund Corvex Management LP, run by activist investor Keith Meister, has built a stake in Clariant AG (>> Clariant) to undo the Swiss speciality chemical maker's $6.4 billion (5 billion pounds) planned takeover of Huntsman Corp (>> Huntsman Corporation), Bloomberg reported on Monday, citing people with knowledge of the matter.

The fund, which has built a stake exceeding the threshold of 3 percent, plans to push Clariant to explore alternatives to the Huntsman deal, including a potential sale, Bloomberg said. (https://bloom.bg/2sklMRU)

Corvex believed the Huntsman acquisition lacked strategic rationale, Bloomberg reported, citing the unidentified sources.

Clariant and Corvex Management were not immediately available for a comment.

(Reporting by Mekhla Raina; Editing by Dan Grebler)

Stocks treated in this article : Huntsman Corporation, Clariant
Stocks mentioned in the article
ChangeLast1st jan.
HUNTSMAN CORPORATION 0.32% 31.25 Delayed Quote.-6.13%
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Financials ( CHF)
Sales 2018 6 717 M
EBIT 2018 731 M
Net income 2018 429 M
Debt 2018 1 400 M
Yield 2018 2,29%
P/E ratio 2018 18,50
P/E ratio 2019 16,52
EV / Sales 2018 1,37x
EV / Sales 2019 1,29x
Capitalization 7 814 M
Chart CLARIANT
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Clariant Technical Analysis Chart | CLN | CH0012142631 | 4-Traders
Technical analysis trends CLARIANT
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 18
Average target price 25,8  CHF
Spread / Average Target 9,0%
EPS Revisions
Managers
NameTitle
Hariolf Kottmann Chief Executive Officer & Executive Director
Rudolf Wehrli Chairman
Patrick Jany Chief Financial Officer
Peter Chen Non-Executive Director
Carlo G. Soave Non-Executive Director
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