Saturday 10 February 2018

UPDATE 1-Switzerland's Clariant halts strategic update pending talks with SABIC

UPDATE 1-Switzerland's Clariant halts strategic update pending talks with SABIC:

"Clariant has halted plans to issue an update of its strategy after an activist investor sold its 25 percent stake in the Swiss speciality chemicals maker to Saudi Basic Industries Corp (SABIC) last month.

Clariant had said in November it would issue the update after U.S.-based investment vehicle White Tale demanded three Clariant board seats and called for an independent review of the Swiss firm by an investment bank.

The update, which Clariant intended to deliver in early 2018, was to cover merger and acquisition (M&A) activities, short-term portfolio management options, returns to shareholders and cost structures."



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