August 15, 2017 / 10:00 PM / 6 months ago

FTC asks Clariant, Huntsman for more information on planned merger

(Reuters) - Swiss chemicals maker Clariant AG (CLN.S) and U.S.-based Huntsman Corp (HUN.N) said on Tuesday U.S. regulators had asked for more information on their proposed merger, but they were confident of still closing the deal by the end of this year.

Hunstman said the U.S. Federal Trade Commission had on Monday made a second request for information relating to two products – sodium isethionate, used in personal care products such as soap, and a polyetheramine product used in certain construction and paint and ink applications.

    The two products accounted for less than $24 million in total U.S. revenue for either company in 2016, Clariant said.

    Both companies said in nearly identical statements they were confident they could satisfy any FTC concerns on a timeline consistent with the merger, which they continue to expect to close around the end of the year.

    The two companies said in May they would merge to create a chemical manufacturer with a market value of about $14 billion.

    Reporting by Bhanu Pratap in Bengaluru; Editing by Savio D'Souza

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