Deals
Clariant Wants Bums on Seats to Offset Activist in Huntsman Vote
- Chemical maker considering early announcement of EGM date
- Low turnout could tip scales in favor of activist White Tale
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With weeks to go before Clariant AG shareholders flock to a Swiss conference center to vote on the $7 billion takeover of Huntsman Corp., Chief Executive Officer Hariolf Kottmann is pulling out all the stops to get his way and defeat an activist investor group seeking to kill the deal.
Aware a low turnout could harm the Swiss company’s chances of garnering the majority vote required, Clariant has identified ways to help boost attendance, including announcing the date of the vote sooner than legally required to give more time to reach out to small, retail shareholders, according to a person familiar with the situation. The meeting is expected to take place in November.