FRANKFURT/LONDON (Reuters) – Doubts are growing among Clariant (CLN.S) investors whether the Swiss chemicals maker will be able to drive through a $20 billion merger with Huntsman Corp (HUN.N) in the face of opposition from an activist investor.

White Tale Holdings became the largest shareholder in Clariant last month with a 15.2 percent stake, and a source close to the investor told Reuters it was likely to buy more stock ahead of a shareholder vote on the deal.

Both sides are gearing up for a fight.

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