HuntsmanClariant will have sales of around $13.2 billion, the companies said, based on pro-forma 2016 sales and adjusted operating profit of $2.3 billion. The deal is expected to close before the end of the year, the companies said in a statement.
"This is the perfect deal at the right time," said Clariant CEO Hariolf Kottmann. "This is in the best interest of all our stakeholders. Peter Huntsman and I share the same strategic vision and I look forward to working with him."