Tags: EU | AkzoNobel | Axalta

AkzoNobel Ends Merger Talks with Axalta

Wednesday, 22 November 2017 05:39 AM

LONDON (AP) — Dutch chemicals and paints maker AkzoNobel says it has ended talks on a possible merger of its paints and coatings business with Philadelphia-based Axalta.

AkzoNobel said Wednesday it would focus on increasing profitability independently instead. CEO Thierry Vanlancker said he is "confident that our strategy offers significant value for shareholders."

Axalta Coating Systems CEO Charles Shave said discussions ended when the firm realized it "could not negotiate a transaction on terms that meet our criteria."

Earlier this year, AkzoNobel rejected repeated takeover bids by American rival PPG Industries, with the last worth $28.8 billion.

Axalta, meanwhile, has a market value of $8.2 billion.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
Europe
Dutch chemicals and paints maker AkzoNobel says it has ended talks on a possible merger of its paints and coatings business with Philadelphia-based Axalta.AkzoNobel said Wednesday it would focus on increasing profitability independently instead. CEO Thierry Vanlancker said...
EU,AkzoNobel,Axalta
105
2017-39-22
Wednesday, 22 November 2017 05:39 AM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved