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Clariant board approves management’s updated strategy, claims wide investor support

( November 24, 2017, 16:00 GMT | Official Statement) -- Clariant, the Swiss chemical maker fending off an activist investor, said its board had approved management’s plans to update its strategy following a failed merger with US rival Huntsman. The deal was scrapped under pressure from White Tale Holdings, which holds more than 20 percent of Clariant’s shares and is pressing for board seats and an independent strategic review. Management’s updated strategy would “further enhance growth and value creation” and had the backing of Clariant’s Süd-Chemie legacy shareholders and “the majority of institutional shareholders,” the company said.Full statement follows....

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