Nippon Paint Offers $8.6 Billion for AkzoNobel Unit, Bloomberg News Reports
The Tokyo-listed company has made multiple offers in a month as it seeks to reunify the Dulux brand and expand in Europe.
- On Monday, Nippon Paint Holdings submitted a proposal to acquire Akzo Nobel's decorative paints unit for $8.6 billion, confirming earlier reports of the unsolicited offer.
- Akzo Nobel is proceeding with a merger with Axalta Coating Systems, creating a $25 billion entity, after rejecting a joint takeover bid from Nippon and Sherwin-Williams valued at 12.5 billion.
- Bloomberg News reported that management has not engaged with Nippon regarding the new proposal, which values the business at about 12 times its 2026 earnings before interest, taxes, depreciation, and amortization.
- Shares of Nippon fell, marking the biggest intraday decline in more than a month, while reports suggest the firm could still abandon its pursuit of the decorative unit.
- Paint makers are pursuing mergers to save money amid rising costs and intense competition, and the acquisition would reunify the Dulux brand globally while strengthening presence in Europe, where the unit derives most revenue.
17 Articles
17 Articles
Japanese Nippon Paint submitted a $8.6 billion proposal to purchase the Dutch AkzoNobel decorative paint business. Exclusive material for subscribers. To have full access, access the material link and register.
Japanese paint group Nippon Paint wants to pay 7.5 billion euros for an acquisition of AkzoNobel's consumer division. The Dutch company confirmed on Monday that it had received multiple proposals but declined to comment. The company behind brands such as Flexa and Sikkens has been working on a merger with the American company Axalta for some time and has chosen to proceed with it.
Japanese paint group Nippon Paint wants to pay 7.5 billion euros for an acquisition of AkzoNobel's consumer division. The Dutch company confirmed on Monday, following rumors, that it had received multiple proposals but declined to comment. The company behind brands such as Flexa and Sikkens has been working on a merger with the American company Axalta for some time and has chosen to proceed with it.
Nippon Paint offers $8.6 billion for AkzoNobel unit
Nippon Paint has offered to buy AkzoNobel's decorative paints business for €7.5 billion, the company said today, a month after it withdrew an offer to buy the whole firm along with US-based Sherwin-Williams for €12.5 billion.
Especially the paints from Dulux are popular in Europe. Now a Japanese company offers for the color division of Akzo Nobel. With his first offer he had failed.
Coverage Details
Bias Distribution
- 64% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
