ZURICH, Sept 28 (Reuters) - Activist investors seeking to block specialty chemicals maker Clariant’s merger with Huntsman of the U.S. have boosted their stake in the Swiss company.
A notice published on Thursday by the Swiss stock exchange showed White Tale Holdings, which has been used by hedge fund investor Keith Meister and New York City investors David Winter and David Millstone to amass Clariant shares, owns 15.19 percent of voting rights, up from 15.098 percent on Sept. 20.
White Tale says the merger with Texas-based Huntsman will destroy value, while Clariant argues the $20 billion deal to create the world’s second-biggest specialty chemicals company will produce hundreds of millions of dollars in synergies.
Clariant has yet to schedule a shareholder meeting to vote on the tie-up, which must win two-thirds support to proceed. (Reporting by John Miller; editing by Alexander Smith)