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

CLARIANT (CLN)
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White Tale activists increase Clariant stake: Finanz und Wirtschaft

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10/06/2017 | 05:33pm CEST
Logo of Swiss specialty chemicals company Clariant is seen in Pratteln

Activist investors seeking to block specialty chemical maker Clariant's $20 billion merger with Huntsman Corp own "significantly more" than 15 percent of Clariant shares and want to increase their stake, they told a Swiss newspaper.

"We already own more than 15 percent and we're not done buying," White Tale investors David Millstone and David Winter told Finanz und Wirtschaft in a joint interview released on Friday.

The next disclosure threshold would be 20 percent. They had previously reported a stake of just over 15 percent.

Calling themselves "long-term oriented investors" who are "here to stay", Millstone and Winter reiterated their opposition to the planned merger that would give Clariant 52 percent of the combined entity should shareholders approve.

"We want Clariant to become a better and stronger company, and we don't see that happening with Huntsman."

The proposed deal, they said, significantly undervalued Clariant and overvalued Huntsman.

The Swiss chemical manufacturer should instead sell its plastics and coatings business, they said, and reinvest the proceeds into acquisitions within the higher-margin specialty chemicals businesses.

(Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)

Stocks treated in this article : Huntsman Corporation, Clariant
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Financials ( CHF)
Sales 2017 6 254 M
EBIT 2017 654 M
Net income 2017 344 M
Debt 2017 1 593 M
Yield 2017 1,97%
P/E ratio 2017 24,57
P/E ratio 2018 20,82
EV / Sales 2017 1,56x
EV / Sales 2018 1,50x
Capitalization 8 189 M
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Mean consensus HOLD
Number of Analysts 19
Average target price 23,3  CHF
Spread / Average Target -5,4%
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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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