It’s easier for an activist to oppose than propose. That’s the straightforward lesson from Clariant’s struggle with its largest investor, White Tale. The 20 percent shareholder scuppered the Swiss chemicals maker’s merger with U.S. rival Huntsman. Determining what happens next, however, will require powers of persuasion. The $9 billion company announced on Friday that it would lay out a new strategy for investors early in the new year. At the same time, it rejected a proposal by White Tale – which combines Keith Meister’s Corvex and fellow U.S. fund 40 North – to hire an investment bank to lead the