Tags: APFN | EU | Netherlands | AkzoNobel | Axalta

AkzoNobel Confirms Talks with Axalta about Coatings Merger

Monday, 30 October 2017 06:00 AM

THE HAGUE, Netherlands (AP) — Dutch chemicals and paints maker AkzoNobel is in "constructive" talks about a possible merger of its Paints and Coatings business with U.S.-based Axalta.

The two companies issued statements Monday confirming the talks about a possible "merger of equals."

Philadelphia-based Axalta said in a statement that the company "will pursue such a transaction only if its Board of Directors determines that it is in the best interest of Axalta to do so. There can be no assurances that a definitive agreement between the parties will be reached or on what terms."

Earlier this year, AkzoNobel rejected repeated takeover bids by American rival PPG Industries, the last offer worth $28.8 billion, saying they weren't in the interests of shareholders.

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Dutch chemicals and paints maker AkzoNobel is in "constructive" talks about a possible merger of its Paints and Coatings business with U.S.-based Axalta.The two companies issued statements Monday confirming the talks about a possible "merger of equals."Philadelphia-based...
APFN,EU,Netherlands,AkzoNobel,Axalta
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2017-00-30
Monday, 30 October 2017 06:00 AM
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