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Ciba Calls Off Merger Agreement With Clariant

Ciba Specialty Chemicals Inc., Switzerland, announced that its board of directors has decided not to approve the proposed merger agreement with Clariant AG. Negotiations to merge with Clariant have been terminated.  According to Ciba, the decision follows a period of extensive due diligence, which revealed commercial, financial, legal and regulatory risks and constraints in executing the planned transaction and which would affect the future merged company.

January 1999