AkzoNobel N.V. (AMS: AKZA; OTCMKTS: AKZOY) and Axalta Coating Systems Ltd. (NYSE: AXTA) will operate under the name Axanzo once their planned merger closes, the companies announced Oct. 15. The combined company expects to trade under the ticker symbol AXZ on the New York Stock Exchange and Euronext Amsterdam after closing. The companies said closing […]
CCC Reportedly in Advanced Sale Talks With GTCR, Elliott
Private equity firm GTCR and activist investor Elliott Investment Management are reported to be in advanced talks to acquire CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCC), Reuters reported Oct. 9, citing a source familiar with the matter. A final agreement had not been reached, and the source did not disclose financial terms, according to Reuters. […]
Copart Extends ACV Auctions Tender Offer to Oct. 15 as Tendered Shares Pass 50%
Copart, Inc. (NASDAQ: CPRT) has extended its $10.50-per-share cash tender offer for ACV Auctions Inc. (NYSE: ACVA) a second time, moving the expiration to 5 p.m. EDT Oct. 15 to allow the federal antitrust waiting period on the deal to run out. The extension, announced Oct. 8, comes as tendered shares have climbed past the […]
AkzoNobel to Sell Southeast Asia Decorative Paints Business to Nippon Paint for $1.35 Billion
Akzo Nobel N.V. (AMS: AKZA; OTCMKTS: AKZOY) has signed binding agreements to sell its Decorative Paints business in Southeast Asia, Papua New Guinea and Australia to Nippon Paint at an enterprise value of approximately $1.35 billion (€1.20 billion), the company announced Oct. 5. The deal concludes AkzoNobel’s review of its decorative paints portfolio in Asia. […]
Belron Acquires AGC’s Vehicle Glass Businesses in Poland and Czech Republic
Belron, the vehicle glass repair and replacement group that owns Safelite, said Sept. 30 it has completed the acquisition of its franchise businesses in Poland and the Czech Republic from AGC Inc., the global glass and materials company. Financial terms were not disclosed. The two businesses, which AGC operated as Belron franchisees, total 52 branches. […]
VIVE Collision Expands in New Hampshire With Concord Acquisition
VIVE Collision has acquired Above All Collision Center in Concord, N.H., the Northeast multiple shop operator announced Sept. 30, adding a collision repair facility in the state capital. Financial terms were not disclosed. Located at 45 Chenell Drive, the shop will operate as Above All Collision Center, Powered by VIVE. It offers collision repair and […]
AkzoNobel Completes Sale of Pakistan Business to Packages Group
AkzoNobel has completed the sale of Akzo Nobel Pakistan Limited to IGI Investments (Pvt.) Limited, part of Pakistani conglomerate Packages Group, closing a transaction first announced in April at an enterprise value of approximately €50 million ($56.7 million), or 16.2 billion Pakistani rupees. The deal represents an EV/EBITDA multiple of 14x and includes AkzoNobel’s decorative […]
Australia Competition Regulator Blocks IAG Acquisition of RAC Insurance
The Australian Competition and Consumer Commission (ACCC) on Sept. 23 ordered Insurance Australia Group Ltd. (ASX: IAG) not to proceed with its proposed acquisition of RAC Insurance (RACI), concluding after an in-depth Phase 2 assessment that the deal would substantially lessen competition in motor vehicle insurance and home and contents insurance in Western Australia. IAG […]
UK Competition Regulator Launches Phase 1 Review of AkzoNobel-Axalta Merger
The U.K. Competition and Markets Authority (CMA) has formally launched its phase 1 merger inquiry into the proposed combination of Akzo Nobel N.V. and Axalta Coating Systems Ltd., setting a Nov. 11 deadline to decide whether to refer the roughly $25 billion all-stock deal for an in-depth phase 2 investigation. The CMA launched the inquiry […]
Copart Launches Tender Offer for ACV Auctions Shares, Sets Sept. 30 Expiration
Copart, Inc. (NASDAQ: CPRT) has launched its tender offer for all outstanding shares of ACV Auctions Inc. (NYSE: ACVA) at $10.50 per share in cash, moving forward with the approximately $1.9 billion acquisition the companies announced Sept. 10. The offer, commenced Sept. 17 through Apple Merger Sub, Inc., a wholly owned Copart subsidiary, is scheduled […]