What is the stated enterprise valuation of Akzo Nobel's Decorative Paints business in Nippon Paint's proposal, and how did Akzo Nobel's Boards respond to it?

Nippon Paint Holdings Co. submitted conditional and non-binding acquisition proposals for Akzo Nobel's Decorative Paints business with an indicative enterprise valuation of EUR 7.5 billion. Akzo Nobel's Boards rejected the offer, stating that it 'significantly undervalues the business' and reaffirmed their unanimous recommendation of the previously announced merger with Axalta Coating Systems Ltd.

Does Akzo Nobel intend to proceed with the merger with Axalta Coating Systems Ltd despite receiving offers from Nippon Paint?

Yes — Akzo Nobel's Boards continue to 'unanimously recommend the previously announced merger with Axalta Coating Systems Ltd', even after confirming receipt of Nippon Paint's proposals, which they deem significantly undervaluing the Decorative Paints business.

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Akzo Nobel Confirms Offers from Nippon Paint for Its Decorative Paints Business

Jul 13, 2026

Akzo Nobel confirmed receiving acquisition proposals from Nippon Paint for its Decorative Paints business valued at EUR 7.5 billion, while maintaining its recommendation to merge with Axalta Coating Systems.

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