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Huntsman and Clariant Agree to Merge

Peter Neil - Author

May 30 2017, Updated 11:35 a.m. ET

Huntsman and Clariant to merge

On May 22, 2017, Huntsman (HUN) and Clariant announced that their respective boards have approved a merger to form a new entity called HuntsmanClariant. The combined entity’s enterprise value is estimated at $20.0 billion. The merger is expected to bring a cost-saving synergy of more than $400.0 million and a value creation of more than $3.5 billion. The merger is expected to be completed by the end of 2017.

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Peter. R. Huntsman, president, and CEO (chief executive officer) of Huntsman, said, “I could not be more enthusiastic about this merger and look forward to working closely with Hariolf Kottmann, a man I have admired and trusted for the past decade. We also look forward to a close association with his immensely talented colleagues around the world. Together, we will create a global leader in specialty chemicals with a combined balance sheet providing substantial financial strength and flexibility.”

Huntsman stock for week ended May 26

For the week ended May 26, 2017, HUN closed at $25.76, falling 7.3% for the week. HUN stock was trading 8.2% above the 100-day moving average of $22.87, indicating an upward trend. On a year-to-date basis, HUN has risen 29.7%.

With a 14-day RSI (relative strength index) of 47, the stock is neither overbought nor oversold. An RSI of 70 or above indicates that the stock is overbought, and a score of 30 or below suggests that the stock is oversold. HUN’s 52-week low is $14.16, and its 52-week high is $28.20.

HUN outperformed the First Trust Materials AlphaDEX ETF (FXZ), which rose 0.50% for the week ended May 26, 2017. FXZ invests 1.3% of its portfolio in Huntsman. The top holdings of the fund include Tahoe Resources (TAHO), Owens-Illinois (OI), and FMC (FMC) with weights of 3.9%, 3.7%, and 3.6%, respectively, as of May 26, 2017.


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