Huntsman $20 Billion Combination with Clariant

Citi and UBS AG are serving as Clariant’s financial advisors for the transaction, with Homburger and Cleary Gottlieb Steen & Hamilton serving as its legal advisors. BofA Merrill Lynch and Moelis & Company LLC are serving as Huntsman’s financial advisors for the transaction, with Kirkland & Ellis, Bär & Karrer and Vinson & Elkins acting as its legal advisors.

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.

The Kirkland team was led by David Fox (Picture), 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.

Cleary Gottlieb Steen & Hamilton advised Clariant with a team including corporate partners Victor Lewkow and Aaron Meyers, tax partners Yaron Reich and Corey Goodman; employment partner Michael Albano; capital markets partner Ward Greenberg; finance partner Amy Shapiro; and antitrust partners Thomas Graf and David Gelfand.

Shearman & Sterling LLP advised BofA Merrill Lynch with Robert Katz and counsel Sean Skiffington.

Paul Weiss Rifkind Wharton & Garrison LLP has advised Moelis with Jeff Marell and Scott Grader.
 

Involved fees earner: Jeffrey Marell – Paul Weiss Rifkind Wharton & Garrison; Scott Grader – Paul Weiss Rifkind Wharton & Garrison; David Fox – Kirkland & Ellis; William Sorabella – Kirkland & Ellis; Shawn O’Hargan – Kirkland & Ellis; Patrick Jacobs – Kirkland & Ellis; Dean Shulman – Kirkland & Ellis; Mike Carew – Kirkland & Ellis; Adam Kool – Kirkland & Ellis; Richard Aftanas – Kirkland & Ellis; David Curtiss – Kirkland & Ellis; Ian John – Kirkland & Ellis; Paula Riedel – Kirkland & Ellis; Robert Katz – Shearman & Sterling; Sean Skiffington – Shearman & Sterling; Victor Lewkow – Cleary Gottlieb Steen & Hamilton; Aaron Meyers – Cleary Gottlieb Steen & Hamilton; Yaron Reich – Cleary Gottlieb Steen & Hamilton; Corey Goodman – Cleary Gottlieb Steen & Hamilton; Michael Albano – Cleary Gottlieb Steen & Hamilton; Ward Greenberg – Cleary Gottlieb Steen & Hamilton; Amy Shapiro – Cleary Gottlieb Steen & Hamilton; Thomas Graf – Cleary Gottlieb Steen & Hamilton; David Gelfand – Cleary Gottlieb Steen & Hamilton;

Law Firms: Paul Weiss Rifkind Wharton & Garrison; Kirkland & Ellis; Shearman & Sterling; Cleary Gottlieb Steen & Hamilton;

Clients: Bank of America Merrill Lynch; Moelis; Clariant; Huntsman Corporation;

 

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Author: Ambrogio Visconti