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AkzoNobel, Axalta in ongoing 'constructive discussions’ on merger bid
Months following a halted merger bid with PPG (see related news at http://plasticsandrubberasia.com/june2017/company/ppg-drops-bid-for-akzonobel.html), Dutch paint maker Akzo Nobel is in talks of a US$30 billion merger with US-headquartered Axalta Coating Systems.
In its latest press statement, AkzoNobel has confirmed that it is currently in constructive discussions regarding a merger of the AkzoNobel Paints & Coatings business with Axalta. This will create a leading global paints & coatings company through a merger of equals.
AkzoNobel confirms that its separation of Specialty Chemicals, including the return of the vast majority of net proceeds to shareholders, remains on track for April 2018 and is unaffected by these discussions.
This is a public announcement by AkzoNobel N.V. pursuant to section 17 paragraph 1 of the European Market Abuse Regulation (596/2014). This public announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities.
(PRA)
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