Reuters: Huntsman, Clariant M&A talks ended late last year

|About: Clariant AG (CLZNF)|By:, SA News Editor

Informal talks late last year between chemical companies Huntsman (HUN -0.6%) and Clariant (OTC:CLZNF) over a tie-up ended over a disagreement about who would play the lead role, Reuters reports.

HUN wanted to sell off Clariant's Plastic and Coatings division, which accounts for more than 40% of the latter's revenues, as the move would have given it the dominant role in the merged group, according to the report.

Many European companies, including BASF and Solvay, have made deals as as growth in the chemicals industry has slowed; European firms especially have suffered, losing market share to rivals in Asia where demand is growing faster, or to North America where energy is cheaper.

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