Deals
Clariant Said to Be Targeted by Activist Hedge Fund Corvex
- Corvex said to build stake above 3% disclosure threshold
- Activist investor said to oppose Clariant deal with Huntsman
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Activist hedge fund Corvex Management has built a stake in Clariant AG in a move designed to undo the Swiss chemicals maker’s $6.4 billion planned takeover of Huntsman Corp., according to people with knowledge of the situation.
Corvex, which has built a stake in Clariant that exceeds the disclosure threshold of 3 percent, plans to push the company to explore alternatives to the deal including a potential sale, said the people, who asked not to be named because the situation is private.