Clariant and Huntsman Corporation announced a merger of equals through an all-stock transaction. The merged company will be named HuntsmanClariant. The transaction is targeted to close by year end 2017, subject to Clariant and Huntsman shareholder approvals, regulatory approvals, and other customary closing conditions. On a pro forma basis, the combination will create a leading global specialty chemical company with sales of approximately $13.2 billion, an adjusted EBITDA of $2.3 billion, and a combined enterprise value of approximately $20 billion at announcement.