AkzoNobel Rejects Takeover Offer From Nippon Paint, Sherwin-Williams
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9 Articles
The Amsterdam stock exchange is trading virtually flat on Wednesday afternoon. Strong buying interest at AkzoNobel is providing support to trading, however. Wall Street started cautiously this afternoon. Paint manufacturer Axalta is a notable gainer in the US due to the takeover frenzy surrounding Akzo.
Company stated that its boards of directors and supervision reviewed the proposal and concluded that it was not superior to the merger agreement with Axalta announced in November
The merger between paint manufacturer AkzoNobel and American competitor Axalta is not yet a done deal. At the end of April, Nippon Paint from Japan submitted a bid to acquire AkzoNobel. AkzoNobel rejected the offer, as the company believes the merger with Axalta will yield more value for its own shareholders. As a result of the merger, AkzoNobel will be delisted from the Amsterdam stock exchange, but the new company will retain one of its two he…
AkzoNobel rejects takeover offer from Nippon Paint, Sherwin-Williams
May 27 : Dulux paint maker AkzoNobel has rejected a cash takeover offer of €73 ($85) per share from rivals Nippon Paint and Sherwin-Williams, the Dutch company said on Wednesday, sending its shares 16 per cent higher.The offer price represented a premium of 39 per cent to AkzoNobel's last closing price of �
Paint manufacturer AkzoNobel, known for brands such as Flexa, Sikkens, and Dulux, rejected a takeover bid from the Japanese Nippon Paint and the American Sherwin-Williams earlier this month. AkzoNobel is in the process of merging with American industry peer Axalta Coating Systems and is proceeding with this.
AkzoNobel Rejects Joint Cash Bid From Nippon Paint, Sherwin-Williams
Disclosure of offer comes in advance of the public U.S. SEC disclosure detailing proposed AkzoNobel-Axalta merger. Akzo Nobel N.V. (AMS: AKZA; OTCMKTS: AKZOY) rejected a conditional, non-binding joint cash bid from Nippon Paint Holdings Co. and The Sherwin-Williams Company that would have broken up the Dutch coatings maker, opting to proceed with its $25 billion …
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