Clariant AG (CLRN.MU)

Clariant to buy Canada's Lucas Meyer Cosmetics for $810 million

ZURICH (Reuters) -Switzerland-based Clariant AG said on Monday it would acquire Canada's Lucas Meyer Cosmetics from International Flavors & Fragrances in an all-cash deal for $810 million. The deal came as Clariant, whose products are used to make de-icers, food ingredients and skin and health care products, reported a fall in third-quarter sales and core operating profit. "All in all, slightly positive," Vontobel analyst Sibylle Bischofberger wrote in a note to investors, adding that the acquisition of Lucas Meyer Cosmetics "makes sense and is good" but is also expensive.