Huntsman stirs up the market and is then acquired - Ciba and Clariant breathe a bit easier

After stirring up the markets and causing speculation regarding the future of Clariant an Ciba, it was announced today that Hunstman will be acquired by Access Industries' Basell for $25.25 per share (a transaction variously reported to be valued at between $9.6 bn and $5.6 bn).

Basell, originally a JV between BASF and Royal Dutch Shell, was acquired in 2005 by US-based Access Industries, six months after Huntsman completed its own initial public offering. The proposed deal will double the size of Basell.

Can Ciba and Clariant relax or is the Huntsman acquisition part of a bigger consolidation plan?

Further reports: Financial Times; WSJ; ABC Money; Oil Week; Palm Beach Post, PE HUB