Kirkland & Ellis LLP advised Huntsman Corporation (NYSE: HUN), a global manufacturer and marketer of differentiated chemicals, on its agreement to combine with Clariant (SIX: CLN), a globally leading specialty chemical company, through an all-stock transaction with approximately $20 billion in enterprise value. The merged company will be named HuntsmanClariant and will create a leading global specialty chemical company with sales of approximately $13.2 billion. Peter R. Huntsman, current Huntsman President and CEO, will become CEO of HuntsmanClariant. Hariolf Kottmann, current Clariant CEO, shall become Chairman of the Board of HuntsmanClariant. The merged company will have a dual stock exchange direct listing on the SIX Swiss Exchange and the New York Stock Exchange. The transaction is expected to close by year end 2017 and is subject to customary closing conditions. Further information is available here.
The Kirkland team was led by David Fox, William Sorabella, Shawn O’Hargan and Patrick Jacobs; Dean Shulman, Mike Carew and Adam Kool handled tax matters; capital markets was handled by Richard Aftanas and David Curtiss; and antitrust was led by Ian John and Paula Riedel.