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. […]
AkzoNobel Rebuffs Nippon Paint Offers for Decorative Paints Business Ahead of Axalta Merger Votes
Akzo Nobel N.V. (AMS: AKZA; OTCMKTS: AKZOY) confirmed July 13 it has received multiple conditional and non-binding proposals from Nippon Paint Holdings Co. to acquire its Decorative Paints business at an indicative enterprise valuation of €7.5 billion ($8.55 billion), saying its merger agreement with Axalta Coating Systems Ltd. bars the company from engaging with the […]
Nippon Paint and Sherwin-Williams End Pursuit of AkzoNobel
End of bid clears path for continuation of AkzoNobel and Axalta merger of equals. Nippon Paint Holdings Co. and The Sherwin-Williams Company said June 3 they have ended their joint effort to acquire Akzo Nobel N.V., removing the chief obstacle to AkzoNobel’s proposed $25 billion all-stock merger of equals with Axalta Coating Systems Ltd. The […]
AkzoNobel Rejects Joint Cash Bid From Nippon Paint, Sherwin-Williams
Disclosure of offer comes in advance of the public U.S. SEC filing 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 […]
Axalta and Nippon Paint End Acquisition Talks
Axalta Coating Systems (NYSE:AXTA) yesterday confirmed that its previously announced discussions on a possible acquisition by Nippon Paint have ended. According to Axalta, Nippon Paint’s Board of Directors were unwilling to meet Axalta’s expectations regarding the value of the company and assume the financial leverage necessary for the deal. “Axalta is a premier company in […]
Axalta Confirms Acquisition Discussions with Nippon Paint
Following closely on the announcement that it had ended talks with AkzoNobel on a possible merger, Axalta Coating Systems (NYSE:AXTA) confirmed Wednesday, November 22 it has entered into discussions with Nippon Paint over a possible sale to the Japan-based coatings manufacturer. In a statement released Wednesday Axalta confirmed the discussions saying “Axalta today confirmed that […]