|  

Akzo Nobel and Axalta in talks about merger

10.11.2017 − 

Akzo Nobel is exploring the possibility of merging its Paints & Coatings activities with Axalta Coatings Systems according to an ad-hoc statement published on 30 October. Plans announced on 9 March to spin off its Specialty Chemicals division were unaffected by the talks with Axalta and remained on track to close by April 2018, Akzo Nobel noted.

Akzo Nobel had fended off a takeover offer from PPG Industries above all with plans firmed up in mid-April to spin off its Speciality Chemicals business. However, in recent weeks the company had to back away from an EBIT growth forecast issued at that time as part of a new growth strategy for 2017. PPG has been subject to a six-month standstill period since dropping its bid at the start of June.

Tags of this news:

previous − Neenah Paper purchased Coldenhove Papier

Neodecortech achieves sharp growth in sales revenue  − next